BCAA Members save on a new type of home closing insurance with SecureMyOffer
BCAA announced a partnership with SecureMyOffer: BCAA Members selling a home in British Columbia save $50 on Home Closing Insurance.
In the news · Ottawa Business Journal ·
The financial risk nobody talks about when you sell your home
The Ottawa Business Journal tells the story behind SecureMyOffer. Founder Morgan Girouard and his wife sold two properties to buy their next home, and then their buyer didn't close. The result was a $150,000 loss, and a search for insurance that would have covered it. There wasn't any.
The article explains why a buyer default hurts so much: by closing day, sellers have usually committed to the next home, given notice or planned around the sale proceeds. The law offers recourse, but it takes time, and carrying costs keep running while sellers wait. In markets like Ottawa, where relocations and two-property moves are common, that exposure can be the difference between a clean move and a setback that takes years to recover from.
A summary by SecureMyOffer. The full piece is published by Ottawa Business Journal.
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