One of the biggest mistakes home buyers make!

 

The home buying process can be a very stressful time. You are trying to get offers accepted, make sure you stay on budget, and then make sure you find the right kind of loan. However as home buyers go through that they forget to do one of the most important things and that is getting a home insurance quote before they put a contract on a house. There are a few reasons this can be beneficial. First of all it tells the homeowner what the insurance will be on the new house, this can have a major impact on the mortgage payment. This way the customer presents the offer that is best for them. Next it can have a major impact on closings costs, lets say one company quotes you $1000 on homeowners insurance and another quotes you $2000. This could be a difference of a $1000 that you pay at the closing or the seller pays. If a seller has to pay less closings costs they might be more likely to accept your offer. The third and one of the most important things is when you get a home quote from an insurance carrier they can run loss reports on a property to tell you if there have been any claims and what kind of claims. So a home inspector might be able to tell you that na roof has been replaced but the loss report might be able to tell you why.

 

When factoring in all these things and your offer has been accepted you can now move quicker through the closing process because the lender knows the home insurance premium to budget and doesn’t have to research it for you. Anytime you go through this process you should reach out to an independent insurance agency in Birmingham, Al like Community First Insurance Agency (205) 451-4294. They can give you the resources and tools you need to make the decision that is best for you and your family.