Step 22 to Selling Your House: Cancel Homeowner’s Insurance

Cancel Homeowner’s Insurance

When should you cancel your homeowner’s insurance?

If you’re purchasing another home, transfer your insurance to the new house, arrange the transfer to go through after settlement. This will prevent a lapse in case of an emergency the day of closing.

Picture this.

Settlement on your property is scheduled for Friday morning at 9 o’clock. There’s an unexpected hail storm Thursday night leaving substantial damage to both the roof and siding.

When the buyers arrive at the property Friday morning they discuss the damage that was done by the previous night’s storm.

Because the damage was done prior to settlement and receipt of funds you are still responsible for the damage. You don’t want to cancel your insurance too soon otherwise you could be left paying out of pocket for any damage.

Give your insurance agent a call to find exactly when you should cancel or transfer services. This is one situation in which you definitely want to err on the side of caution.

If you aren’t moving into a newly purchased home, switch to renter’s insurance, and discuss the next step with your insurance agent.

Questions? Please give us a call at 703-539-2053 or email us at info@demo.agentreputation.xyz.

 

 

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Step 1: Hire a Realtor

Step 2: You’ve Hired Your Realtor. What’s next?

Step 3: Declutter and Stage!

Step 4: Conduct a Pre-Listing Inspection

Step 5: Repairs

Step 6: Deep Clean

Step 7: Professional Photography

Step 8: We’ll Pre-Market Your Home

Step 9: We’re live on MLS, now what?

Step 10: Putting your home listing on 3rd party sites (Zillow, Realtor.com, Trulia, etc.)

Step 11: Time for Showings

Step 12: Week One on the Market

Step 13: You’ve got your first offer!

Step 14: We couldn’t come to agreeable terms with the buyer. What now?

Step 15: Offer was accepted! Congrats!

Step 16: The Home Inspection Period

Step 17: Financing and Appraisal Contingency Period

Step 18: Select a Title Company

Step 19: Scheduling closing date

Step 20: Hire Movers, Start packing!

Step 21: Utilities Transfer

Step 22: Home Owner’s Insurance Cancelation

Step 23: Hire a Cleaning Service

Step 24: Buyer’s Mortgage Approval

Step 25: Final Walkthrough

Step 26: It’s Closing Time!

Step 27: Review Us

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About the Author: The above article was written by Abraham Walker, Your Alexandria Virginia Real Estate Agent, helping clients market their homes to achieve high sales with a quick closing time is my main priority.

He’s the co-founder of Ask A Walker and can be found on YouTube, Facebook, and HERE on this blog.

Abraham can be reached via email at Abraham@AskAWalker.com or by phone at (703)539-2053.

He’s happy to answer all your real estate questions.

Thinking of selling your home? Check out my 20+ step process to selling your home. Or contact me now to start the home selling process. Same day appointments are available on a case by case basis.

Your Alexandria, VA Realtor, Abraham Walker, helps people sell and buy real estate in the following Northern Virginia area cities & neighborhoods: Kingstowne, Island Creek, Cameron Station, Overlook, Alexandria, Old Town, Belle Haven, Fort Hunt, Mount Vernon, Springfield, West Springfield, Burke, Lorton, Woodbridge, Lake Ridge, Manassas, Annandale, Fairfax, Arlington, McLean, Reston, Herndon and of course Vienna.