Seller's Insurance

By
Real Estate Agent with Right at Home Realty Inc., Brokerage

Did you know you can now get closing insurance when you sell your home. For as low as $99 you can be insured for up to $25,000 in the event that the buyers don't close.Caution Sign This will cover the cost of mortgage payments and other costs that you may have if you have to carry 2 homes.

There seems to be a growing trend of buyers being approved by the bank and then just before closing, the bank won't give them the mortgage money.  This can happend for several reasons i.e. change in credit rating, large purchase before closings, loss of employment, etc.  It's better to be cautious and prepare for the unexpected.

 

Posted by

Gail Fabiani, Sales Representative

Ā 

Gails Picture

Right at Home Realty, Inc., Brokerage, 920 Brant Street, Unit #5 Burlington, ON

905-637-1700

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www.burlingtonhomes4sale.com

Comments (2)

Janice Ankrett
Janice Ankrett Home Staging - Burlington, ON
Staging Professional

Sounds like a good buy Gail. Owning two homes at once is a scary thought.

Sep 17, 2013 09:28 AM
Gail Fabiani
Right at Home Realty Inc., Brokerage - Burlington, ON

A lot of people think you can just get bridge financing, but usually the banks won't give it to you until your house is sold.

Sep 20, 2013 12:28 AM