Insurance Claims During A Real Estate Transaction

Last week-end, Calgary felt strong winds and damaging hail to many parts of the city. This was not the first, and unfortunately won’t be the last time that Calgarians will have to deal with property damage and insurance claims.

This has lead to many questions from Home Owners, Buyers, and yes…even Realtors wondering how this will affect the purchase or sale of a home that has been damaged.

I had the opportunity to meet with lawyer Geoff Horne from Cameron Horne Law Office to discuss this topic, and help give some options for both buyers or sellers.

GeoffLogo

Contact Info

What happens when the damage to the property happens before the conditions have been removed?

What are 2 options if the work isn’t completed before closing day?
How do we make these 2 options happen?
We talked briefly about Holdbacks. How long can they be in effect?
If we have a firm deal in place and the conditions have been removed, do you have any advise for someone that might be going through this?

Thank-you Geoff for taking the time to share some great advise to anyone that might be in this situation right now, or in the future. Call him today for more information!

If you’re looking to buy or sell residential Real Estate in the Calgary area, give me a shout. I’d be more than happy to help out.

Bruce Voigt – REALTORMaxWell Canyon Creek Logo Clear Background 2
MaxWell Canyon Creek
(403)620-2685
bruce.voigt@shaw.ca
http://www.myrealtoronline.ca

 

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