Two Houses Owner Occupied Both?

[iiinycboi]

So i have a prospect who is ready to buy a house, but wants 2 owner occupied policies.

i'm pretty sure i cant issue two owner occupied homes

what to do? she lives in the first home but will let her parents live in the new home. The mortgage loan is for owner occupied home.

what is the consequences of making her current owner occupied home a tenant occupied? and her second home which she will let her parents live in owner occupied.

 

[djs]

This doesn't come up that often, but I've done it a number of times, especially when people get married and had two separate homes.

In fact, I once had a couple get married, they had homes about 2 blocks apart. They kept both homes, one was vacant for some time, they used it as a vacation home for visiting relatives. They eventually sold that and bought a new house they moved into.

Some carriers will allow 2 owner occupied homes. Sometimes you have to list one of them as a second home. Its really not so much a tennant situation, unless she might evict her parents.

Thing is, you have to list the parents as part of the household. Without doing that, the whole thing will blow up. Just list everyone over 18 as members of the household, then have the 2 houses. Call one a secondary home if you have to.

Dan

 

[Guest]

I can list homes as secondary or seasonal..........


My next quoestion is.....iii, its daily you get a unusual quote, WTF is going on up there! HAHA

 

[djs]

Heck, I like the questions. Keep'm coming!

 

[VolAgent]

I can list homes as secondary or seasonal..........


My next quoestion is.....iii, its daily you get a unusual quote, WTF is going on up there! HAHA

Maybe the list all the new agents in NYC in "Scammers and Cheaters Digest"?

 

[iiinycboi]

Haha, I use forums very heavily for other topics and categories. But this forum isnt as active as other ones, so i figured I'll keep posting questions I have each day and get people to interact more.

Plus it helps me learn and I think it helps other retain or spark up an interest.

Back to topic, I seem to getting all the clients whe everyone rejects or they see that im new and try to get me to do certain thngs for them

 

[Guest]

so BOI, your saying, your inexperienced and try to write everything. Us old geezers have learned some things are too involved and take too much time and effort to deal with. LOL

Just like the dude that wanted the DP-1 you were asking about, 3 questions and most of us would run from that.........LOL

Young grasshopper is learning thou!

 

[GRF]

It is possible. One primary the other secondary but it may vary by carrier.

 

[rousemark]

Once knew of a fellow who had two owner occupied houses.. Had two wives, two sets of children, two dogs, etc. He doesn't own the cell he now occupies.