On Feb 9, 7:33�pm, wrote:
In article 6b346bd1-dfc5-4d63-8d07-bb5f02856c29
@i12g2000prf.googlegroups.com, says...

now most people and everyone with a mortage has homeowners insurance.
so its more of a issue at home sale time......

who buying a home wants to have trouble getting homeowners insurance?
or pay a lot more for it?

I was very happy to find out the home I wanted to buy had K&T wiring. �
That kept anyone else from making an offer on it, other than someone who
wanted to tear it down and rebuild.

Fortunately, I knew of one company that would be willing to make an
exception and sell me very stripped down homeowners insurance for a
rather high price (cash value, not replacement cost, very limited
coverage in other ways, for about double the price of standard
coverage). �

Most agents you ask around here would say it simply isn't insurable, but
since it was my own house I didn't mind spending the time to get an
exception from the underwriters. �(On the other hand, I couldn't bind
coverage in advance, it had to wait for an hours-long inspection by a
senior loss adjuster, so the house wasn't insured for the first week I
owned it..... �Good thing I didn't need a mortgage.)

Sure, I spent hundreds extra on insurance, but I got the house for tens
of thousands less than it appraised for. �Saved enough to pay for the
replacement foundation, too. �(That was less of an underwriting issue,
there were several places I could have insured it with a broken
foundation, it's considered less of a hazard than K&T.)

--
is Joshua Putnam
http://www.phred.org/~josh/
Braze your own bicycle frames. �See
http://www.phred.org/~josh/build/build.html

the ultimate loser in all this was the seller...........

which was my point from the beginning