Hi, does anyone know a company that offers E&O insurance to someone who does rent to own transactions? I am not involved after the tenant-buyer moves in.
@Jaspree Sin I don't know that E&O is precisely what you're looking for, unless you're a Realtor and doing this within your profession. You need to define the nature of your business and then sit down with a good insurance broker who can write the coverage that will match your specific areas of risk.
It's important that you find a quality, knowledgeable broker. If you're wholesaling and selling to ultimate owners through rent-to-own contracts - and if you're not a Realtor, attorney, or other licensed professional - you can touch on some potentially significant liability issues. You need to be aware of them, and you need tools to help you manage them, as well as the insurance to cover them.
@Eric Belgau , thank you for your reply! I will definitely keep that in mind. If anyone knows of companies that do insure wholesalers for rent to own that would help a lot!
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