Bad Allstate employee?...
BD
potential-buyer, an Allstate Insurance employee, "came back" and let him
know he was asking way too much because they'd looked up his policy and
found the value and payoff amounts for the house...
So is that actually legal? There anything he can do about it? Their
privacy-policy (the one I finally found on their website,atleast) says that
they aren't to use the info for anything other than for, well... what you'd
expect... To do their job, as it relates to your account.. There's nothing
in there, that I could find, about it being ok to use the info for getting
better deals on the houses they insure....
Hmm.. Is there a more appropriate ng to be asking this in?
Thanks.
toadmonkey
illegal. Have your friend file a complaint with the state attorney general and
discuss this with an attorney. That is abusing their responsibility when they
pull that crap.
Carl
--
Toadmonkey: "Now now. Brain popping and world crashing may be hazardous to ones perception of reality.
Very dangerous business that can lead to madness or something worse for some, truth."
jimbe...@mindspring.com
could be worth more than the property. I have a 2500 sf house that I
guess the replacement cost is about $150,000, maybe more. My property
(9 acres, 2,500 sf barn, outbuilding, fences) might sell for 200,000
to 225,000. If I had the same amount of property in the big city 35
miles west it would be worth a few million. Or just the house on a 1/3
acres would be worth a half million. I guess I am saying the guy is an
idiot first for stealing private information which he should be fired
for and second trying to get you to believe that your possibly
underinsured and undervalued by insurance standards house is a valid
appraisal.
"BD" <bo...@pobox.com> wrote:
Jim B.
Woodswun
I think it's illegal. I'd say let the sale walk and report the rat to the
state agency that oversees insurance companies.
You might want to do a search on the net of (+Sears +Allstate +Scientology) -
you'll find a lot of stuff that's not very flattering to Allstate and it's
management. (IOW - I'm not surprised that it was an Allstate agent that
pulled this).
Woods
Steve IA
Lenders won't let you underinsure by very much, so if there is a lien,
it's gotta be properly insured.
I think the "come back" was blufffing trying to scare the seller into
lower his price.
my 2˘
Steve
southiowa
Janet Baraclough
from "BD" <bo...@pobox.com> contains these words:
> Hmm... A friend's trying to sell a house & property, and the
> potential-buyer, an Allstate Insurance employee, "came back" and let him
> know he was asking way too much because they'd looked up his policy and
> found the value and payoff amounts for the house...
> So is that actually legal? There anything he can do about it?
In the UK, obtaining that info for his private use would be an
offence under the Data Protection Act...don't you have something
similar? It's taken *very* seriously here, a sacking offence.
When selling or buying property, it's *very* common ime to meet
weasels and/or fantasists who will try to manipulate you in ways far
beyond the reasonable bounds of agreeing a deal.
IME the best way to deal with them is to say I pay my lawyer to
negotiate on my behalf, and will only deal lawyer to lawyer. This
never fails to sort the goats from the sheep; and it costs far less
than the losses from people who were already out of their own price
range, were already stalled in some other legal mess, or make a hobby
out of playing fantasy property deals.
Janet
BD
I guess I'll just have to call Allstate and ask just for the 'trivia buff'
in me, tho.. ;) He's already pretty much lost interest in the 'case'...
Thanks.
\
"Steve IA" <sah...@lassienet.net> wrote in message
news:3CDD2963...@lassienet.net...
Offbreed
> Lenders won't let you underinsure by very much, so if there is a lien,
> it's gotta be properly insured.
Nope. The lender is going to want what is owed covered and that can be
a lot less than the present value. Why should the lender insist the
creditor carry more than than what's owed when the lender isn't going
to see any of it?
> I think the "come back" was blufffing trying to scare the seller into
> lower his price.
Yup.
Gary and Roxanne Lake
Insured value and mortaged amounts have little to due with the value of a property. Value is
all about what it it is, where it is, and how big a fool you can find to buy it..
For example ...
An ol' fella with a couple hundred acres and a 1 bedroom shack on the outskirts of Atlanta.
The insured value is virtually nil. The payoff is nil since he inherited it from
great-grandad. Is the property value nil? Highly unlikely!
Tell the loser to crawl back in his hole, that the property is priced realistically based
upon features and the current market, and that obviously he needs to get a better job so that
he can afford it. Then call his boss and relate your experience; if I were the boss, I'd help
him by giving him the opportunity to find a new job.
Seems like everyone is looking for an in these days.
Larry Caldwell
writes:
> Hmm... A friend's trying to sell a house & property, and the
> potential-buyer, an Allstate Insurance employee, "came back" and let him
> know he was asking way too much because they'd looked up his policy and
> found the value and payoff amounts for the house...
Your friend needs to change insurance companies. The Allstate employee
was telling him the truth - there is no way Allstate will pay off on the
value of the policy. They *always* screw their policy holders.
toadmonkey
TM
--
ozark
policies and their high handed way of dealing with customers. I
recomend that your friend get in touch with Alstate and complain about
this particular agent and seriously consider another company. This
person's actions sound unprofesional at best and illegal at worst. I
assume you are located in the USA if so your state has an agency that
regulates insurance companies, complain to them. If this person
bothers him.
Regarding getting the best price for his real estate. I have bought
and sold a couple of hundred pieces of real estate. Believe me I've
heard it all. Different people have different ways of talking you down
on the price. What counts is how much the property will bring in your
market place and how long your friend is willing to wait for his or
her money. I have found that in the long run I always do better if I
find a Real Estate agent I trust to help with setting my asking price
based on the market value of the property and how big a hurry I am in
to close the deal.
For what it's worth, if the insurance guy is making a real offer in
writting backed up with earnest money at least you know he is a real
potential buyer. Until you have both of these items in hand you are
simply dealing with one of the thousands of people out there wasting
your time with cheap talk. If he is a serious buyer don't scare him
off. Otherwise take anything thing he says with a grain of salt.
Ozark
"BD" <bo...@pobox.com> wrote in message news:<Vl0D8.207$uv1.1...@newsfeed.slurp.net>...
The Rock Garden
> I think it's illegal. I'd say let the sale walk and report the rat to the
> state agency that oversees insurance companies.
I don't have any personal experience with the Allstate ins. co. but this
piece of advice is the best one I've seen here on the subject. All US
states have an insurance commissioner to protect the consumer's interests,
at no cost to the polilcyholder, but at considerable cost to the ins. co. if
they are found to be in violation of the state ins. code.
FWIW, there are about a jillion more false insurance claims filed with the
various companies than there are valid claims denied. Anytime I see someone
claiming they've been unfairly denied payment under an insurance policy my
immediate reaction is either (1) they don't actually have the coveage in
force they thought they did, or (2) they aren't aware of the remedies they
have available to them on a contested claim, or (3) they've been caught
trying to pull a fast one and are attempting to cover their butt by throwing
rocks at someone else...
Skip
Skip & Christy Hensler
THE ROCK GARDEN
Newport, WA
http://www.povn.com/rock/
'Captain' Kirk DeHaan
wrote:
>In article <Vl0D8.207$uv1.1...@newsfeed.slurp.net>, bo...@pobox.com
I've had Allstate auto insurance for 20 years. They had to pay the
maximum on an accident I was in. They never raised my rates.
Problem I have with them is I can't get fire insurance as I am more
than 5 miles from the fire station. Don't see what that matters as it
is a volunteer fire station and they basically can only save the
foundation. Not to knock the firefighters but by the time they get to
the fire things are pretty well cooked. 1/4 mile wouldn't make a
difference but the premium sure does. About 5 times the rate.
Kirk
SpOoKNP
<< an Allstate Insurance employee, "came back" and let him know he was asking
way too much because they'd looked up his policy and found the value and payoff
amounts for the house...
So is that actually legal? >>
This is kinda iffy. The thing with most big companies is to sell people's
info. If your friend has given permission (either by signing or failing to
sign something), then maybe the employee _could_ get access to this info. Some
places like to sell the info to refi companies (banks, lenders, etc.). There
also could be laws in this state allowing potential buyers to get certain
information. Who knows.
SpOoKNP
<< ALL insurance agents are the same. An insurance agent is a scum sucking
intestional maggot who can legally steal money from people and
is covered under law for his thievery. >>
Why knock private citizens when the government does the exact same thing with
welfare and social security.
Maren Purves
WAG that's half correct about the sale, like down payment, interest
rate, mortgage duration, finding a mortgage calculator on the web
isn't too hard, you can come up with a pretty good guess how much
somebody owes on something.
Around here you have to insure for the replacement value (for a
NEW house, even if you live in a fixer upper).
Maren
John Gilmer
> Around here you have to insure for the replacement value (for a
> NEW house, even if you live in a fixer upper).
What you mean, "have to?"
>
John Gilmer
only represent Allstate but they are independent businessmen.)
Like it or not, insurance information is freely exchange between and among
companies and agents.
In the particular problem with the original poster, when you are selling
real estate they only thing you really pay attention to is the written
offer. IOW: money talk, BS walks! If you aren't getting offers your
price is too high; if you are, you price is in the ball park.
JeB
>Hmm... A friend's trying to sell a house & property, and the
>potential-buyer, an Allstate Insurance employee, "came back" and let him
>know he was asking way too much because they'd looked up his policy and
>found the value and payoff amounts for the house...
which has nothing to do with the current market value of a home.
and I'd also file a complaint with state insurance agency and Allstate.
phxbrd
determined by the amount you can actually generate. There's nothing in the
world preventing one from asking more. If a prospective buyer says his bank
won't finance more, it's up to him to make other arrangements. If his
credit is good, he should be able to take out an additional loan for the
difference.
The average piss-poor reelator will sell your house for less than listed. A
real salesman, sometimes called a 'realtor', will sell it for more....
Who cares how much a property was insured for? Was it under or over
insured?
"BD" <bo...@pobox.com> wrote in message
news:Vl0D8.207$uv1.1...@newsfeed.slurp.net...