Return to the Buying and Selling Homes Forum | Post a Follow-Up

 o
closing insurance?

Posted by jamies (My Page) on
Fri, Apr 22, 11 at 16:58

We plan to buy the next home before closing on the current one. The time difference is just a couple of weeks. The buyer of the current house has all his ducks lined up and the deal looks very solid.

Also, the price of the current home (the one we are selling) is very realistic.

Is there somebody out there who sells insurance that buys the current house from you if a deal falls through? Seems like there should be. This deal will only fold if seller dies or is fired or the like.


Follow-Up Postings:

 o
RE: closing insurance?

Lloyd's of London will insure just about anything, for a price.

A large company I worked for used Lloyd's to re-insure employee life insurance when field service workers had to operate in war zones.


 o
RE: closing insurance?

I imagine the premium for any such insurance would be a fairly large chunk of change, say $20K, so that if your deal fell through they could cover the price reduction needed to get it off their books. To merit a smaller premium, they'd have to do a ton of due diligence on the deal, to judge the probability of the deal falling through. And by the time they did that, it would be closing time.


 o Post a Follow-Up

Please Note: Only registered members are able to post messages to this forum.

    If you are a member, please log in.

    If you aren't yet a member, join now!


Return to the Buying and Selling Homes Forum

Information about Posting

  • You must be logged in to post a message. Once you are logged in, a posting window will appear at the bottom of the messages. If you are not a member, please register for an account.
  • Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review your post, make changes and upload photos.
  • After posting your message, you may need to refresh the forum page in order to see it.
  • Before posting copyrighted material, please read about Copyright and Fair Use.
  • We have a strict no-advertising policy!
  • If you would like to practice posting or uploading photos, please visit our Test forum.
  • If you need assistance, please Contact Us and we will be happy to help.


Learn more about in-text links on this page here