Supplemental E&O

As a service to our Associates and Brokers we offer to reduce the usual deductible amount at the time of transaction reporting in exchange for a small fee paid at closing. The current fees and deductible reduction are detailed when reporting a new transaction. 

To qualify for the deductible reduction the following conditions must be met: 

• A seller disclosure form was signed by the seller and buyer prior to closing;
• A home warranty policy was purchased or waived in writing by the buyer between the time the residential real property was listed and up to and including 30 days after closing;
• An accredited written property inspection report was performed on the property or waived in writing by the buyer prior to closing; and
• A state or local board-approved standard sales contract was utilized. (The CAR form RPA meets this requirement)

For agent owned properties (AOP) the additional requirement applies:

• If the property is NOT residential (ex: land/commercial) someone else from the office must list the property and handle the transaction.

We reserve the right to cancel the supplemental benefits on a transaction if any of the above requirements were not satisfied.