Double closing insurance

[Cheryl Petruska]

I have a question about insurance during a double closing. Let's say that after closing with seller, something happens to the house before second closing. How is it covered? 

[Tom Gimer]

Contract can allocate risk however the parties desire. In some the seller assumes the risk of fire or other casualty until settlement. In others the potential liability is shifted to the buyer.

If I was doing business where double closings were not simultaneous, I would properly address that scenario in my contracts.