April Technical Bulletin

Here is the Technical Bulletin for April 2009, “Hold Opens”. This piece describes what a hold open is and the cost savings it can produce for you or your buyers. This product is great for investors and short-term ownership.

 

Here is how it works. If your buyer is purchasing a property that they plan on selling in the next 24 months, they can pay a fraction above the premium the seller has agreed to pay and we will hold the policy open. The policy will stay open for 24 months until the property is sold to a new buyer. Holding the policy open provides a substantial cost savings to the middle buyer because we are not issuing a policy to the middle buyer. When the new buyer purchases the property we issue the policy to them.

 

If you have any questions regarding this topic please feel free to email me, or post your question in the comments section of this post.