Increase Confidence, Reduce Risk
SecureMyOffer Protects Your Clients
Protect Your Deals When a Buyer Defaults.
- Reduce Post-Default Fallout — coverage responds to the actual financial loss your client faces after a buyer walks away
- Preserve Client Equity — protects against price drops if the property must resell below the original contract value
- Shield Clients from Delay Risk — covers financial liability caused by closing interruptions and contractual obligations
- Fund Legal Action Without Stress — legal costs covered to pursue the defaulting buyer or compel completion
- Provide Immediate Liquidity — cash advance available after default (up to 50%), with the balance paid on resale
How We Protect Your Clients
FAQs
SecureMyOffer takes on the legal and financial responsibility of property default. This ensures the Seller maintains the intended Debt Service Ratio and downpayment they were underwritten and pre-qualified for by the lender. This prevents sellers from being stranded and unable to complete their next transaction, and the ensuing liability of cascading defaults (i.e. the domino effect of failed closings).
Yes. Since SecureMyOffer provides financial indemnity after a failed sale, it helps mitigate exposure during bridge financing periods. Sellers with SMO coverage have guaranteed access to funds if their sale falls through, reducing the risk of bridge loan default.
Sellers are the insured party under this policy. SecureMyOffer protects sellers against the financial consequences of buyer default.
Absolutely — it's ideal to inform sellers during pre-listing or early-offer stages. Mortgage brokers can educate clients about this protection as part of comprehensive financial planning for their real estate transaction.
The policy is underwritten by Securemyoffer.com which is a Managing General Agent (MGA). Insurance is provided by Accelerant, an AM Best A-rated Canadian Insurance carrier
SecureMyOffer is a property and casualty insurance product, not a mortgage insurance product.
SMO can improve qualification prospects. If a lender is concerned about the client's ability to complete their sale and access funds for the down payment, SMO provides assurance that the client will receive compensation even if the sale falls through. This can make lenders more comfortable approving the next mortgage.
Absolutely. Clients in simultaneous buy-sell situations face the highest risk if their sale falls through. SMO provides critical protection for the chain of financing and ensures they can complete their purchase even if their buyer defaults.
This would depend on the lender's policies and the specific terms of the SMO policy. Discuss with both SMO and the lender if this is being considered.
SMO coverage demonstrates that the client has taken proactive steps to protect against sale failure and will have access to funds even if the buyer defaults. While it doesn't guarantee the sale will close, it provides financial assurance that may satisfy lender concerns
