Anyone have any A rated companies that will insure a SFH in Florida without a 4 point inspection? Buying a vacant foreclosure that I am pretty sure it will not pass. If no insurance, will have to cancel contract as the lender requires insurance. Buying from Fannie Mae so no concessions allowed, like fixing things prior to closing to be able to pass the inspection.
To my knowledge most require a 4 point. If no 4 point, I would expect to pay a higher premium. I would personally want to have one done so I know of any issues.
Get builders risk insurance, which is what you'll need if you're rehabbing anyway. I assume you're not getting conventional financing, as if it won't pass a 4 point, you likely can't finance it regardless of insurance?
Security First does not require a Four Point but they will request verbal confirmation that the home is in good shape. You can get a 1-12 month vacant renovation policy. A true builder's risk requires that the renovations cost more than 25% of the value of the home.
@Jared Townsend Will security first ensure a roof under 20 yrs but over 15yrs?
Only if it is a tile roof. Shingle roofs they will allow up to 15 years. Carriers that allow up to 20 years include St Johns, Federated National and GeoVera. GeoVera also does not require a four point inspection but they tend to have higher deductibles and is an excess lines (looser regulation) product.