While I agree with the sentiment that in a big earthquake the land may not be saleable, the bank won't be looking for this to be insured will they?
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No insurance in W'gton because of quake
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Originally posted by Nectar View PostWhile I agree with the sentiment that in a big earthquake the land may not be saleable, the bank won't be looking for this to be insured will they?
I am not certain what the % risk that land after a earthquake will be made unusable but it must be very very small if the banks are prepared to lend on it!
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Originally posted by Beano View PostAs far as i know land can't be insured and the banks don't seem to mind lending on the land (so long as there is income stream)
I am not certain what the % risk that land after a earthquake will be made unusable but it must be very very small if the banks are prepared to lend on it!
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Almost a year on and there is still an embargo here in Wellington. Is anyone aware of which companies will provide home insurance in Wellington? I've tried all of the major ones and all their quote systems reject Wellington. Made a few calls and they say that the embargo is still in place.
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Originally posted by HomeMe View PostAlmost a year on and there is still an embargo here in Wellington. Is anyone aware of which companies will provide home insurance in Wellington? I've tried all of the major ones and all their quote systems reject Wellington. Made a few calls and they say that the embargo is still in place.
If there was no insurance then no sales would occur.
I think a lot of sales are occurring so getting insurance must be happening.
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Originally posted by Bob Kane View PostI'm not saying you're wrong but that does sound odd.
If there was no insurance then no sales would occur.
I think a lot of sales are occurring so getting insurance must be happening.
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You can get insurance right now just call an experienced broker.Free online Property Investment Course from iFindProperty, a residential investment property agency.
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Hi, looking for multiple residential units in Wellington and was told that residential properties are not affected by earthquake rating requirements except for commercial properties. However, LIM reports indicate that "any pre-1976 residential building which is two or more stories high and contains three or more residential units will be assessed to determine whether it is Earthquake-prone". Do we need to get earthquake rating report for such residential properties for the purpose of insurance and mortgage loan? Thanks!
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