IN SUMMER the days getting dryer, make sure you insert the following statement into Contracts/offers on areas that have a higher degree of forest fire risks. Each year insurance companies start restricting insurance approvals in areas of fire risk.
Longer the close, potential increased risk during these summer months.
WILDFIRE / INSURANCE STATEMENT:
In the event that the insurance underwriters defer placement of property insurance due to wildfire risk prior to or at the time of completion, the Buyer(s) and Seller(s) agree that the completion, possession and adjustment dates shall be deferred until such time that insurance can be obtained. The Buyer will make all reasonable efforts to complete the sale.
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