How can I get insurance on a property I will only own a few weeks?
Hello All,
I'm closing on two properties this week for $5,000 each. I am trying to find somebody to wholesale them to but may not be able to before I have close on them on Friday. (I do not want to push the closing back because of the relationship I have with the seller).
How can I get insurance on them? I will probably only own these properties for a week or two max. Not worried about the property, but rather about my liability.
My insurance agent does not want to insure them on a landlord's policy for one week and he doesn't think that I could add them to my homeowner's. I also have an umbrella policy with another company that has an additional liability on all of my other rentals. But I believe if I added those to the umbrella policy they would require a regular landlord policy to be place as well.
Anybody have in suggestions? I doubt anything will happen, but that's what insurance is for, right?