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Shopping for Homeowners Insurance

Shopping for Homeowners Insurance

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Published by api-3708315

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Published by: api-3708315 on Oct 14, 2008
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Make the most of your home investment
Content That Works
It\u2019s easy to take for granted

the tools we rely on to protect ourselves, from an umbrella to fend off a rain shower to anti-

lock brakes that prevent skidding
on a wet road. Like umbrellas
and anti-lock brakes, homeown-
er\u2019s insurance often goes under-
appreciated. Once it\u2019s in place,
we often forget about it unless a
misfortune happens.

Apparently, many Americans
forget about homeowner\u2019s insur-
ance altogether.According to
results of a nationwide survey
released in May 2005 by New
York City-based advertising
agency JWT, only 53 percent of

2,568 respondents have home-
owner\u2019s insurance.

\u201cHaving appropriate coverage
in place will protect the single
largest investment that most peo-

Content That Works

The word \u201cprefab\u201d conjures up all kinds of
negative connotations: cheap, trailer parks,
shoddy construction, poor quality materials
and dull, boring design.Well, some of those
may have applied 25 years ago, but these
days,\u201cmanufactured housing\u201d oftentimes
meets or exceeds on-site construction in
terms of quality, durability and cutting-edge
design while still boasting construction time
and cost advantages.

Skeptical? Talk to Nathan Wieler.
In 2002,Wieler and his wife Ingrid were

looking for a new home in North Carolina.
Like many young homebuyers, high prices,
small lots and cookie-cutter designs quickly
discouraged the couple.Then he talked to a
builder friend of his who told him about pre-

\u201cHe said prefab quality was just as good if not better than site-built homes, and actually offered some advantages in terms of cost and timing,\u201d says Wieler.

The conversation ultimately spawned a
prefab design contest in conjunction with
Dwell magazine, put the Wielers in the win-
ning home, the Dwell Home designed by
New York-based Resolution 4:Architecture,

and convinced Nathan to go into the housing
development business, focusing on prefab.

Recently,Wieler purchased 100 acres of
land in Henley, N.C., that he is dividing into
20 lots for Rapson Greenbelt prefab homes.
Architect Ralph Rapson designed the
Greenbelt in 1945 for the groundbreaking
Case Study House Program, a project of Arts
and Architecture magazine that sought to
develop alternatives to tract housing. Rapson
then submitted the design to the Dwell con-
test last year, and it caught Wieler\u2019s eye.

The Greenbelt\u2019s distinctive design feature

There\u2019s a Problem with the
House \u2013 Can We Get Our
Deposit Back?

Q:After putting down a $2,000

deposit and offering the seller the
full asking price, we found severe
water damage and fungus under
all the siding of the home during
the professional investigation
process. Now we feel the price is

way too much. The seller won\u2019t lower the price
and we don\u2019t want to continue with the deal.
How do we get the $2,000 deposit back?

A:A real estate purchase involves more than price

and your situation proves this point.You had a right to
inspect the property after the purchase offer was
accepted. However, did you also have a right to
demand repairs up to a certain dollar amount? If the
owner declined to pay could you then withdraw from
the agreement without penalty? Alternatively, did you
have a home inspection clause that said the examina-
tion had to be \u201csatisfactory\u201d to you or the transaction
was finished and your deposit would be returned?

Please see an attorney immediately.Ask for your
deposit back. If it is not returned have the lawyer
review the agreement language and any seller disclo-
sure forms you received.

Q:I am selling my home by myself. What is
typically fair courtesy to a buyer\u2019s agent?
A:A buyer broker represents a purchaser.Your goal
is to sell the property thus it makes sense to allow bro-
kers to see the home.

The buyer, in turn, is responsible for the payment of
the buyer brokerage fee. However, when purchasers
make an offer they may have a variety of stipulations.
They could say they will buy your home if you will pay
the first x percent of their closing costs, if you will
reduce the price, if you paint the living room, etc. One
possible part of an offer is a requirement that you pay
some or all of their brokerage costs.

You have the right to accept, reject or counter any
buyer offer. However, in this circumstance you are at a
disadvantage because the purchaser has a professional
advocate. For this reason you should engage a broker
or attorney before signing any offer to make sure that a
host of costly \u201cgotcha\u201d clauses are not hidden in the
fine print.

Q:I purchased a house from my sister. Who
should inform our Homeowners Association
Ask our broker
Once is Not Enough to Consider Insurance Needs
\u2018Pre-Fabulous\u2019: New Generation of
Prefabs Rises Above Modest Origins
Not your parents\u2019 prefab home: a series of interior courtyards, flexible walls and ecology-minded features distinguishes Sunset
Breezehouse, a modular home designed by Michelle Kaufmann Designs. The house is delivered on flatbed truck, 90 percent complete.
SeePRE-FABS, Page 2
SeeInsurance, Page 2
\u00a9 2005 Content That Works \u2013 All Rights Reserved \u2022 contact us at 866-6CONTENT or CONTENTTHATWORKS.com for licensing information.

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