Tax Sale Insurance During Redemption Period

[Nick Morello]

Hi all. Let's assume you have won a tax sale auction and now you have to wait until the redemption period expires before you can take ownership of the property. What happens if a flood or fire occurs to the property during the redemption period? How can you proect/insure your interest? Does anyone know if there is insurance available and/or who providers might be? Thanks

[Jay Hinrichs]

@Nick Morello  I have a proctor account were I put all of my builders risk stuff... zurich has this product as well.... you just e mail them and address and boom your insured.. they charge by the month.. I like it a lot of my vendors move the inventory in 30 to 90 days so we are only paying sometimes as low at 90 to 150 for insurance per home.

Now if your going to keep it a full year or more this is not always the most cost effective.. but it works for a quick and dirty solution.

I used Foremost over the years for my MHParks that I owned.. they insruaed the crappy trailers in said parks LOL