What are the risks in transacting Real Estate sales that a business or individual needs coverage for?

Lawsuits are filed every day in every part of the country. With the complexities involved in real estate transactions, there are no guarantees that you will never receive a demand letter or be named in a lawsuit concerning your professional services as a real estate agent or broker.

The ten most common claims made for real estate:

  1. Fraud
  2. Breach of Duty
  3. Breach of Contract
  4. Negligence
  5. Bodily Injury / Property Damage
  6. Misrepresentation regarding the Condition of the Property
  7. Consumer Protection Act
  8. Earnest / Escrow Money Dispute;
  9. Misrepresentation regarding Flooding or Leaks
  10. Misrepresentation regarding the Value of the Property

Even if you’re named in a frivolous lawsuit where you did everything right, you can still incur substantial legal fees to defend yourself if you’re not covered by E&O insurance.

This blog/website is made available by CRES Insurance Services for educational purposes to give you general information and understanding of legal risks and insurance options, not to provide specific legal advice. This blog/website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. Claims examples are for illustrative purposes only. Read your policy for a complete description of what is covered and excluded.

Originally Published January 5, 2017

Read about the new iPhone iOS 13 per @InmanNews https://t.co/R27UAYtfG7 RT @InmanNews: Feature that prompts social network users to reconsider posting potentially offensive comments grew out of effort to combat…