How does disclosure protection benefit sellers?
Sellers do not expect to get into legal trouble over the sale of their home, but they often do. Post-sale disputes can cost home sellers thousands of dollars, despite sellers' best intentions to provide comprehensive disclosures about their property. Waiting until a dispute occurs could leave sellers liable for the full cost of defense and damages.
- Qualifying sellers can purchase insurance coverage ranging from $25,000 to $50,000 towards defense costs and damages. Protection continues while in escrow and up to 12 months after the close of escrow.
- This plan also includes Legal Consultations with an experienced real estate defense attorney covering two transaction-related matters pre-closing and one unrelated matter post-closing.
- Additionally, the seller will receive a Permit History Report on their listed property, which includes certain data on the property such as incomplete permits, completed permits, contractor names and a description of the work done (if any).
When do sellers see the option to purchase the plan?
Once the seller's disclosure forms are fully completed, if eligible, they will see an option to review the plan details and request or decline enrollment, as shown below.
Please note that CRES Insurance's Disclosure Protection Plan is only available for purchase within 72 hours of the seller completing their disclosure forms on Glide or before sending the forms to the buyer, whichever occurs first.
Sellers will be asked to confirm their interest a second time by selecting a plan and entering their payment details before a purchase is generated.
After selecting "Confirm" the client receives confirmation:
Once an enrollment request has been processed, the listing agent and other packet recipients will be notified of the order via email.
Does Glide share data with third parties?
Glide takes privacy and data protection very seriously! No personal data is shared with any third parties unless the seller explicitly consents by ordering the insurance plan. Enrollment data is limited to the minimum information required to fulfill the order: name, email and property address. Sellers will not receive any communications regarding this program unless they submit an order via the Glide experience.
How do I opt out of my seller being shown this offer?
Listing agents can visit their account settings page to disable this feature.
How can I learn more about this plan?
Coverage is written on a group basis and subject to an aggregate limit of $1 million for all covered insureds. A retention of $2,500 per insured applies before coverage is afforded. Defense costs are included within the policy’s limit of liability.Policy is written on a Claims-Made and Reported Basis requiring claims to be filed with the insurer before the end of the coverage period.Coverage is excess of all other applicable coverage. Please see a copy of the policy for the full terms, conditions and exclusions.
Contact a CRES account specialist directly: (800) 880-2747 Ext. 302 or firstname.lastname@example.org
Glide's blog: https://www.glide.com/blog/disclosureprotection