Foreclosures - What Market Takes 'em

[lhpgators]

I mainly work with standard homeowners policies. Recently I've had some calls from people purchasing foreclosures. Prior damage such as minor wood rot, minor roof leaks. Every prospect states they are renovating these places once they take ownership. The banks are of course not willing to make repairs.

Where do you guys go with this type of business?

BTW, I'm in FL

 

[Arnage150]

I mainly work with standard homeowners policies. Recently I've had some calls from people purchasing foreclosures. Prior damage such as minor wood rot, minor roof leaks. Every prospect states they are renovating these places once they take ownership. The banks are of course not willing to make repairs.

Where do you guys go with this type of business?

BTW, I'm in FL

I usually just write a builders risk including coverage for existing structure (with Zurich) and then a separate GL policy for the premises (E&S). Then when they are finished do a HO for them.
If you get someone that is doing a lot of them I've seen master policies where you can just add and delete them as they are bought & sold.