As a real estate wholesaler, you have a different set of responsibilities than a traditional real estate firm owner. You may spend massive amounts of time marketing for real estate deals, determining if the property can turn a profit, and finding an individual who wants to buy the home. Wholesale real estate liability insurance is something that is useful for those who are a part of this business practice to avoid lawsuits and other legal problems.
Common Problems Associated with Real Estate Wholesaling
Business insurance is useful for any company, but there are specific risks as a wholesaler. These may include:
- Arguments over housing violations
- Disputes over work performed by contractors
- Problems with partners of duties and profits
- Disputes with agents, vendors, and title companies
Proper Insurance Needs
Having wholesale real estate liability insurance can take care of many of these problems. There are a few different types of coverage that might be beneficial to take advantage of as a wholesaler. Some examples include licensing claims coverage, business brokerage coverage, property management coverage, and environmental hazards coverage.
Choosing a company that specializes in real estate insurance will provide you peace of mind that you are protected in any legal situations that come up as a result of your work. You will be able to focus on what matters the most and leave the rest to a professional.