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Old 12-08-2013, 11:27 AM
 
Location: Ormond Beach, FL
1,615 posts, read 2,143,456 times
Reputation: 1686

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Are there any real estate web sites that show what the insurance costs will be on a property assuming the buyer will get a mortgage? This seems like a basic requirment in Florida with several types of insurance required by mortgage lenders. Any way to guess from a Zillow or MLS listing on what the total insurance cost will be?

It seems like listing the elevation and required insurance codes should be doable.
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Old 12-08-2013, 11:39 AM
 
1,759 posts, read 2,166,252 times
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Along with the HOA Fees, maintenance fees and all fees (assessments)… Wouldn't that be great?
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Old 12-08-2013, 12:01 PM
 
Location: Florida
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Quote:
Originally Posted by 071402 View Post
Along with the HOA Fees, maintenance fees and all fees (assessments)… Wouldn't that be great?
I have seen HOA fees listed on many homes, along with taxes. Even if you know what the seller is paying for property insurance, that does not mean that is what you will pay in premiums. When I was looking for insurance, different agents gave very different quotes for the same policy. Even with Citizens which is drastically downsizing now, there were different quotes from different agents. Citizens is now turning over customers to private companies, but my insurance is only going up $100 with the private company--I do not know what they would quote a new client not coming from Citizens. When I sell (soon), I'll be happy to give the buyer my insurance agent's name, as I called around to a number of agents (many recommended by friends), and she came up with a much lower premium quote than the other agents did--some were almost 50% more. That will at least save the seller from having to make the same calls. The insurance agent you use is important.
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Old 12-08-2013, 07:57 PM
 
Location: Ormond Beach, FL
1,615 posts, read 2,143,456 times
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I wonder how different agents can come with significantly different costs?
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Old 12-09-2013, 10:20 AM
 
1,759 posts, read 2,166,252 times
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Quote:
Originally Posted by Enigma777 View Post
I have seen HOA fees listed on many homes, along with taxes. Even if you know what the seller is paying for property insurance, that does not mean that is what you will pay in premiums. When I was looking for insurance, different agents gave very different quotes for the same policy. Even with Citizens which is drastically downsizing now, there were different quotes from different agents. Citizens is now turning over customers to private companies, but my insurance is only going up $100 with the private company--I do not know what they would quote a new client not coming from Citizens. When I sell (soon), I'll be happy to give the buyer my insurance agent's name, as I called around to a number of agents (many recommended by friends), and she came up with a much lower premium quote than the other agents did--some were almost 50% more. That will at least save the seller from having to make the same calls. The insurance agent you use is important.
? Huh? which site have you EVER seen that shows how and taxes listed?
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Old 12-09-2013, 10:57 AM
 
Location: SW Florida
14,950 posts, read 12,153,507 times
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Quote:
Originally Posted by 071402 View Post
? Huh? which site have you EVER seen that shows how and taxes listed?
You can usually get that information from the website of the county where the home of interest is located.
Usually you can put in the address of the home,and get the information. Property taxes are public information.

Also, I noticed that if you look at a listed property ( or even not listed but a search for a given address) on Zillow, there is a link just below the picture and details to the county website.
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Old 12-09-2013, 11:52 AM
 
Location: Lakewood Ranch, FL
5,662 posts, read 10,745,652 times
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Many people are unaware that their credit score also has an impact on their insurance quote. There are too many companies and too many variables to include an insurance quote on a particular property on these websites. In fact, because the numbers can vary so much, knowing what the current owner pays may still be useless because they may have different credit scores, different umbrella policies, etc. Buyers should have an insurance agent that is local to the area they are considering that they can call and ask for a quote once the search has been narrowed to one or two properties. Even knowing what the seller's taxes were in the past year can still be misleading because they may have exemptions that the buyer might not get, tax rates can change, market values can change, etc.
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Old 12-09-2013, 12:51 PM
 
Location: Florida
23,795 posts, read 13,265,578 times
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Quote:
Originally Posted by 071402 View Post
? Huh? which site have you EVER seen that shows how and taxes listed?
I don't know--different realtor sites listing homes. It is not a big deal--you can look at the property taxes online on the county appraiser's site--would you like the link? But if it is that big a deal to you, I'll try to find proof of the sites where I saw them and post links.
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Old 12-09-2013, 01:50 PM
 
Location: Miami
6,853 posts, read 22,466,347 times
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Miamidade.gov is Miami Dade Counties official site, in it you can see property taxes people are paying. OP, please remember that what someone is paying for property taxes isn't what you will pay. 2% of your sale price is a good figure to go buy to figure out what your property taxes will be. I've never seen insurance costs listed. Someone once told me 2% is a good figure for insurance as well.
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Old 12-09-2013, 04:23 PM
 
Location: Seattle, WA
2,975 posts, read 4,942,754 times
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My (limited) experience is you will not get much info about insurance from a realtor or realtor website--not even with a "this is not legal, insurance, or tax advice" caveat. Not even a comment about "this feature may help keep your insurance down." There's probably too much trouble that the realtor can get in to, not the least of which is the sale falling through because insurance came up higher than what he had estimated.

The only way is to deal with a good insurance agent who will work together with your RE agent.
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