Seller gets 5 days of free rent back but wont cover insurance...

[dblackga]

Originally Posted by Kibbiekat

I don't think it is that simple. Think of the logistics of stopping a homeowners policy and starting a renters policy just for 5 days. I don't know how willing an insurance co would be to do that. We've done rent backs, and we always insure the home from the day it becomes ours. It doesn't cover the contents, though, just the house. If the former owner wants to cover the contents, that's up to them.

Why is the rent back free?

And the buyer probably does not want to create a scenario in which the seller is suddenly a "tenant" with "rental insurance" -- that is a can of worms that no one should want to even go near.

[gray horse]

Thanks again folks, the issue has been resolved. The seller's agent made a mistake when she said the seller's wouldn't continue their policy. They are continuing their policy until they vacate which is common practice in the region...and that makes me feel better in case they have a mover that happens to break his neck or something. I of course will have insurance starting the day of closing.