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6 Tips for Taking the Flood Insurance Risk Out of Home Closings

RIS Media

and are approved under federal law as proof of insurance to banks and lenders at closing. Disclosure: Some states require a seller disclosure that includes information about past flood damage; however, many do not. Private flood insurers often offer better coverages, better pricing and better terms.

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6 Tips for Taking the Flood Insurance Risk Out of Home Closings

RIS Media

and are approved under federal law as proof of insurance to banks and lenders at closing. Disclosure: Some states require a seller disclosure that includes information about past flood damage; however, many do not. Private flood insurers often offer better coverages, better pricing and better terms.

Closing 85
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What Legal Documents Will You Need for Buying a House? Here’s Your List

HomeLight

Some states require sellers to fill out a seller disclosure statement documenting known repair needs or health and safety hazards in the home. This can include anything from knowledge of lead-based paint or asbestos, to the seller’s awareness of water damage in the basement, a leaky roof, or damaged plumbing.

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Disastrous Disclosures

The Residential Specialist

In California, for example, all sales must include a Natural Hazard Disclosure Report that lets buyers know if a property is located in an area that’s prone to flooding, earthquakes or wildfires, among other things.

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Selling a House ‘As Is’ in Washington State

HomeLight

Disclosures. Seller Disclosure Statement. The seller “was skipping all the way to the bank,” Graham says. A good time to fill out Washington’s Seller Disclosure Statement (colloquially called Form 17 ) is prior to listing your home or requesting an offer so that you know it’s taken care of.

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Big-City Convenience with Small-Town Charm: How to Buy a House in Arlington

HomeLight

on the southwestern bank of the Potomac River. If you want to buy a house in Arlington, you’ll have to factor in a higher cost of living and housing prices in this seller’s market, where the average listing sells in several days. Minimal seller disclosures.

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Interview with an Appraiser: The Subjective Side of Determining a Home’s Value (Part 2)

HomeLight

It’s kinda like how, at least here in Washington state, every seller fills out the same seller disclosures form. Jamie: Usually, in a situation like this, the appraiser was hired by the bank. But you just have to go through the bank. It keeps those reports consistent. And I never have a problem with it.

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