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With the housing market in its current state, there are more foreclosed homes up for grabs than usual. Some individuals are able to take advantage of this situation and purchase a home for much less than what it is worth. While many of these houses are in good condition, some are in need of extensive amounts of repair, which brings us to the topic of this month’s column: What is the difference between construction of a property and renovation of a property, and how is coverage affected?


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