Risks to Real Estate Agents Representing Sellers When Low Inventory

CRES Insurance Risk Management Webinar Series by CRES Insurance

Episode notes

There are extremely low inventory levels for housing across multiple states right now. A significant portion of the real estate market is individuals who are simultaneously selling a home they live in and buying another they intend to live in.

It’s very common to include buyer contingencies in the purchase agreement, which makes the purchase contingent upon the sale of the buyer’s property.

However, there’s no corresponding contingency for the sellers if they’re unable to buy another property before the transaction closes.

The reality of the current market is that even if a seller has significant cash funds, they may not easily find another property to live in (whether buying or renting). Sellers in this low inventory environment are finding themselves with nowhere to live if they complete the sale of their home ... 

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