Extreme Home Experts
The Foreclosure rate in the U.S. is up 25% from last year. When foreclosure hits many homeowners destroy their property out of despite to get back at the bank for some reason or another. Most of these properties have been stripped of everything in them. Scrappers will find every piece of copper in the house. This will then cause the next homeowner many of problems with electric and water lines. In most cases when a property is foreclosed on it is abandoned for a long period of time.
This is why we have invented this website to try to help new
homeowners stay away from these types of problems. Our goal is to help people
get the most facts that they can about a home before they actually close
on the house.
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When Selling or Buying a House, make sure you get an Extreme Home Experts Report.
First let's discuss what an Extreme Home Experts report is; this is a report on your house or the house you are interested in purchasing. It shows any previous insurance claims made within the last 5 years. But why is an Extreme Home Experts report important?
This report will not just save you from buying a possible headache, but also save you money. Even if you have a Home Inspector perform a home inspection on the property, there might be hidden damages that can't be seen! By providing access to a claims history report, Extreme Home Experts helps first time home buyers, Real Estate agents and even seasoned investors, make informed decisions about the property in consideration.
What if a burglar robbed the home in the past, with this report you can find out if the house is now secure. Do the alarms work? Have new locks been installed? Was it an isolated incident? If the answer is no, the buyer can rethink the purchase, or negotiate with the seller for lower price.
A Extreme Home Experts report contains a 5-year history of loss information submitted for payment, provided by insurance companies including contamination, earthquake, fire, flood, freezing water, liability, lightning, smoke, theft/burglary, vandalism, water and wind damage claims. It contains claim information such as date of loss, type of loss, amounts paid and a description of property covered.
If the property has not had any claims in the past 5 years, this report can provide you some comfort and reassurance about the property condition. If the Extreme Home Experts report does show claim, then you also learn about positive attributes of the potential new home. For example, if you are buying an older home and the roof was just replaced because of storm damage, you may be very happy knowing the property recently received a new roof.
Past Insurance claims on the property can haunt the new home owner!
Property insurance is much like any other insurance out there; they consider the risks involved on the asset they are insuring. If the property you are looking to purchase has had numerous claims in the past, this means the insurer might not insure your property or demand a higher rate due to the risk involved to insure the property.
For example, the previous owner made two previous claims, one for roof damage due to wind, then another for damaged sewer pipes. The insurance paid for both, costing the insurance several thousand dollars. Then the previous owner made another claim for a leaky faucet, but since his deductible was $1000 he decided to make the repairs himself. Now you go to purchase a policy for this home, and you are denied based on the fact the home have had three claims in the past three years: the roof, pipes and the leaky faucet. What has happened is the homeowners’ insurer opened a claim file on the leaky faucet as soon as he called and then later marked it closed, with no payment when the homeowner decided to fix the leak himself. Insurance companies say it is standard procedure to record such telephone inquiries in this matter.An Extreme Home Experts report is also important for Home Sellers!
If you are selling your house and know your property is in good condition, why would you not
want to provide your prospective buyers with an Extreme Home Experts report?
This minute investment will provide the buyers with a more relaxed and comfortable
feel about your house, and might be the deciding factor when they consider
which house to buy!
