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:
Breach of Duty
Breach of Contract
Bodily Injury / Property Damage
Misrepresentation regarding the Condition of the Property
Consumer Protection Act
Earnest / Escrow Money Dispute;
Misrepresentation regarding Flooding or Leaks
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.
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