Are they transferable to new buyers and if so how long are they good for?
Client has a recent 4 point inspection report from the listing agent (the new move in certified program)
Thanx in advance
Tom
That question needs to be asked to and answered buy the insurance underwriter. My experience tells me that if it is not written under your clients name it will not be accepted.
I doubt it I would not change the name or even sign off on a transferable one
I have had clients contact me in the past to change the name on the insurance report. I asked why they didn’t have their inspector write one and they said they got it all from their real estate agent. It seems the last buyers financing fell through.
Got to love insurance companies.
Good point Bill. Had a client use an alias (from N.Y.) for a wind mit, 3 months later the underwriter needed it in his real name. They did accept the revised report though. (just the name change)
If the house has changed ownership who is to say that all the mitigating features are still present. Unless I had been out and verified everything I wouldn’t be putting my signature to it. (I’m thinking mostly about shutters, or any other easily portable items.) As far as I am concerned the 1802 is only good for whoever ordered it in the first place, as soon as ownership changes, the form would be inaccurate, and by its own wording no longer valid.
I know one broker that always wants a 4 point and wind mitigation report and always pays for them I am pretty sure he’s using them like a ready to move in inspection. At least the client will know whether the insurance companies will insure them or not before hand