If a property is at risk and uninsurable, banks won’t provide good terms for a mortgage, because ultimately the property is at risk. This means they’re either going to lower the mortgage, or increase the rates. This means less money is available to purchase the property, which forces a lower price on the seller (because nobody else could buy, unless they use cash, but why would someone pay cash on an at-risk property?).
Right, but the quote from the article specifically says mortgages will be unavailable. So forget about insurance and mortgages. (If we follow that line of thinking.) so I assume that means only cash buyers.
If a property is at risk and uninsurable, banks won’t provide good terms for a mortgage, because ultimately the property is at risk. This means they’re either going to lower the mortgage, or increase the rates. This means less money is available to purchase the property, which forces a lower price on the seller (because nobody else could buy, unless they use cash, but why would someone pay cash on an at-risk property?).
Right, but the quote from the article specifically says mortgages will be unavailable. So forget about insurance and mortgages. (If we follow that line of thinking.) so I assume that means only cash buyers.