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Updated over 7 years ago on . Most recent reply

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Alpesh Patel
  • Accountant
  • Edison, NJ
0
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5
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Lender Requirement: 100% replacement Cost policy on a reno proper

Alpesh Patel
  • Accountant
  • Edison, NJ
Posted

Hi, I need help finding an insurance agent who will issue a 100% replacement cost home insurance policy.  I bought this property and then decided to renovate the whole house so it is currently under construction and obviously vacant.  Due to this, I can't get a policy issued that meets the lender's requirement.  Without this, the mortgage company will not move forward towards closing.  Can anyone help with recommendations or my options as to what I need to do so that I can pull the money out of this property?

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