Let Western Resources Title save them $$$ by issuing an insurance binder!
If a buyer /investor is planning on flipping a property within 2 years, they can save a significant amount of money by buying a binder. Your client would be charged an additional 10% of the premium at the time of his or her initial purchase of the binder. Then at the time of the flip/resale, the investor would pay the difference in title premium between the original purchase price and the current sales price. This can save them hundreds of dollars!
TITLE TERM: Insurance Binder – a temporary contract of insurance in which the title company agrees to issue a specified policy within a certain period of time. (The binder must be requested before the property being purchased closes escrow).
Please note: The binder contract is valid for a period of 2 years from the date of issuance and may be extended for an additional year (for an additional fee) if requested prior to the end of the initial two year period.
For more information, please contact your Western Resources Title representative.