Posted by WilliamGA on November 28, 2000 at 22:19:28:
Most all of the sellers I deal with couldn’t care less about an overage on Ins. or taxes. If this is a sticking point for them, just take the total taxes for the year on the property and divide it by 12 and multiply by the # of months left that they have paid.
I would use my own Ins. Co. I have my agent up to speed on the Trust and how to handle it and he does them all now. I used to try to keep the current agent on the properties I bought but I got tired of having to educate a new agent every time I bought another house.
Your agent should make the trust the loss payee (after the mgt holder of course) and should add the “Beneficial Interests as they appear” as additional insured.