Insurance Conditions Making A Comeback in 2020?

Photo Credit - Architectural Digest

Insurance conditions in an offer have fallen by the wayside in most cases over the last few years. Especially in an active market where the fewer conditions you have, the more attractive your offer is from the seller's perspective.

Not to worry, in specialty-type homes like century homes, rural, waterfront, even log homes, it’s still the norm…but for the average subdivision home it just hasn't seemed necessary anymore. But that’s changing!

The Value of a View

What’s in a view? 

Well, depending on what type of property we’re talking about & whether it’s a good view or a “bad” view, whether it’s something that creates privacy, or the perception of added or decreased value, it could mean the difference of tens of thousands of dollars! Plus or MINUS! Or…you could pay a premium for a view that disappears over time or that you simply can’t recoup the cost of when you sell. Tricky Business!

Pot & Real Estate

If you were a fly on the wall in a room full of REALTORS® when the topic of marijuana & real estate came up, these are some of the things you would hear...

I had one, totally renovated, was raided 10 years back, full home inspection, air quality tests, even infrared imaging and not one A lender would provide a mortgage. Very pretty house, good quality reno. 

Even B lenders are declining mortgages on former grow ops, even if the property is completely re-mediated. I only know of one lender - other than private lenders- that will do a grow op at this point in time and they will put you through the ringer.

Legal is legal RIGHT? So tell that to my client who leased 2000 sq feet in an Industrial Mall to a legal grow op... RBC called his mortgage, only about a 40-50 % ltv but he had to come up with $600,000 to pay them out.