Levi Salmans | Orlando Horse Properties

Chinese Drywall – It has a peculiar acidic smell like wet paint. The emitting sulfur gases are also described as a sour or rotten egg odor. Faucets and showerheads become pitted or turn black. Copper pipes, electrical wiring and air conditioners corrode. Residents have complained of eye and skin irritations, nosebleeds and frequent ear and upper repertory infections.

100,000 homes mostly built in 2006 and 2007 may be affected. The drywall is being investigated by numerous agencies, including the U.S. Consumer Product safety Commission, The Environmental Protection Agency, and the Centers for Disease Control and Prevention along with state health departments. Several are due to report their findings in August and September. If the agencies conclude a “substantial” electrical, fire or health hazard exist, they could issue a recall or other action.

Before selling check out this and other property selling tips at orlandohorseproperties.com.

Look for exclusions to coverage.
For example, most insurance policies do not cover flood or earthquake damage as a standard item. These coverages must be bought separately. Understand your hurricane coverage.

Look for dollar limitations on claims.
Even if you are covered for a risk, there may be a limit on how much the insurer will pay. For example, many policies limit the amount paid for stolen jewelry unless items are insured separately.

Understand replacement cost.
If your home is destroyed you’ll receive money to replace it only to the maximum of your coverage, so be sure your insurance is sufficient. This means that if your home is insured for $150,000 and it costs $180,000 to replace it, you’ll only receive $150,000.

Understand actual cash value.
If you choose not to replace your home when it’s destroyed, you’ll receive replacement cost, less depreciation. This is called actual cash value.

Understand liability.
Generally your homeowners insurance covers you for accidents that happen to other people on your property, including medical care, court costs, and awards by the court. However, there is usually an upper limit to the amount of coverage provided. Be sure that it’s sufficient if you have significant assets.

*If you entertain at your property, have friends riding horses, swimming in your pool or playing on four wheelers, you need to consider an Umbrella Policy for additional liability coverage.

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Levi has Orlando real estate experience for over 20 years. If you are look to buy or sell equestrian property in Orlando, then give Levi a call.