Responding to reader comments and questions

Ilyce Glink and Samuel J. Tamkin

Real Estate Matters readers offer their take on recent topics.

Remark: I quite much appreciated your short article discussing special evaluation insurance policy protection. I am a Real estate agent. I usually stimulate prospective buyers to insert a term to the agreement requesting assembly minutes from at the very least the earlier six months. Tremendous important. Also, I hardly ever knew about getting in a position to insure against some distinctive assessments. Many thanks for holding audience properly-knowledgeable.

Ilyce and Sam reply: There is a lot of innovation going on in the genuine estate house, but some issues are continual: Normally glimpse at condo or co-op financials (and at the very least a year’s worthy of of assembly minutes) ahead of you get the assets. You will discover out a great deal about what priorities the creating board has and how choices are created. Glad you located that useful.

But remember that the exclusive evaluation insurance plan coverage is only for objects included under the terms of that policy, and it won’t address you for maintenance, advancements and other prevalent distinctive assessments. Only perils that were not protected less than the association’s insurance coverage could be permitted.