Friday I attended the closing for a 4 bedroom house I sold in Arlington Heights. We had a few minutes of uncertainty when the buyers’ attorney asked the buyers for proof of homeowners insurance and they didn’t have it with them. Fortunately, I had stopped by the house just before the closing to remove the lockbox and noticed that there was a letter in the mailbox from an insurance company. While the closing continued, I retrieved the letter which helped us complete the closing that day.
Buyers, as soon as you have a contract for a home, apply for homeowners insurance and bring proof of that insurance to the closing.
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{ 2 comments… read them below or add one }
Dear Fran,
I applaud your being proactive and saving the day- that, is a smart Realtor right there… and I’m certain everyone was elated; however, why didnt your BANKER (and their team)get this stipulation out-of-the-way as it certainly is (most often than not) a primary requirement in Illinois….?
Sincerely,
GSC
I think you meant THEIR banker (mortgage company). I represented the seller. The buyer’s attorney and loan officer should have both made sure the buyers knew to bring proof of insurance to the closing.