Realtors, Loan Officers, & Attorneys: The home insurance transaction is not what you think.

By | Personal Insurance

3 Things to Know About Your Buyer’s Homeowner’s Insurance As a professional who is a part of a residential real estate transaction, you know that homeowner’s insurance is a critical part of the closing. However, there are three things about it that could make or break your deal: The effective date of the policy is the effective date. If you insist on the buyer/borrower clearing the underwriting hurdle for a paid receipt and binder, beware. Once bound, it cannot be changed. Unlike a closing date, that works as an on-or-about kind of date, an insurance policy is different. A binder,…

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