Updated about 17 years ago on . Most recent reply
Closing Insurance
Does anyone know if I can buy insurance to cover my losses if a buyer fails to close the purchase of a home? I am referring to the situation where the buyer's financing is approved and the seller has met all his obligations, but the buyer does not bring the closing funds nor execute the purchase/loan documents.
I know the earnest money is forfeited, and a lawsuit might follow, but what about insurance and letting the insurer sue to recover?