I’m doing new construction and it won’t be completed until January 2021 and I have a pending condition for HOI. Insurance agents say they can only go as far as 70days out for a quote. Any suggestions on how to handle this? I really want to go ahead and get this out the way.
Hi. You’ll have to wait until closer to completion before you can fulfill the HOI on new construction. My insurance company would not issue HOI prior to 60 days from close. Try again when you are 70 days out and you should be fine.
I hope this message finds you doing well! Please ask for the quote within the time frame that they will allow 70 days out as well as ask for the Declaration Page and get the specific language from the Settlement Agent to give to the Insurance Agent. You should be fine just get it as soon as you are able to get it. I hope this helps!