Protect your Clients.

SecureMyOffer supplements the remedies available under the purchase agreement, offering the seller immediate financial assistance rather than having to wait for the resale of the property and litigation process. This same financial assistance to the seller also diminishes any leverage the defaulting buyer may have otherwise had in legal negotiations by refusing to release the deposit funds pending a settlement.  

SecureMyOffer may pursue recovery from the defaulting buyer after compensating the seller. This is a standard subrogation right in insurance law, where the insurer steps into the shoes of the insured to recover damages from the responsible party.

Tax treatment of insurance proceeds can vary depending on individual circumstances. Sellers should consult a qualified tax professional or accountant to understand the tax implications of any insurance payout they receive.

Sellers and their legal counsel should determine whether disclosure serves their interests in the specific transaction. There is no legal obligation to disclose the seller's private insurance arrangements to the buyer.

Claims are verified through documentation including the firm offer agreement, default notice, evidence of the buyer's failure to close, and resale results showing the financial loss or gain. SecureMyOffer's claims team works directly with the seller's lawyer to gather and verify all necessary documentation.

You will work directly with SMO's claims team who will provide a full set of documents. Once they are signed, SMO will pay 50% of the policy limit to you with instructions to disburse the funds to your client up to what the seller would have received had the deal closed. SMO will make further payments directly  to cover additional expenses including restaging the home for resale, and related carrying costs of the property until it is sold again.

The seller still has a legal duty to mitigate damages, which typically means making reasonable efforts to resell the property at fair market value. SMO will therefore take all reasonable steps to mitigate the seller’s losses – and the defaulting buyer’s liabilities – while taking every action possible to resell the property.  

The deposit remains in trust and is subject to normal legal processes. SMO's payout to the seller is separate from the deposit. If the deposit is eventually released to the seller (through agreement by the parties or by court order), it would be credited against the total damages to avoid double recovery. SMO, having assumed the seller's rights through subrogation, would be entitled to pursue both the deposit and additional damages from the defaulting buyer.