Real estate insurance: resale guarantee to protect against a drop in prices
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The relative decline in real estate prices These last few months and the uncertainty weighing on this market mark the return to favor of the resale guarantee. Little known, this optional insurance, taken out during purchasing real estatecovers the buyer against the financial loss they could suffer if they had to resell their house or apartment only a few years later.
Please note, the operation must be dictated by one of the events listed in the contract and which trigger the guarantees: death or disability following an accident, redundancy, divorce, dissolution of civil partnership, multiple birth or an external cause such as the construction of a nearby highway or commercial area.
“ In a bearish context, it reassures the buyer, it reassures the banking organization and it even reassures the seller who entrusts his property to a real estate agency because he will sell at the price and find a buyer more quickly”, underlines Christel Caterino, head of the real estate division of ” NousAssure”, a broker who offers this solution.
A unique membership bonus
This type of coverage is in fact marketed by a real estate professional, who “will certify the value of the property,” explains the expert. It is subscribed when signing the compromise or the final act. The guarantee can be offered, as a commercial gesture, or, most often, subscribed by the buyer in the form of a one-time membership premium.
Thus, at “NousAssurers” for example, the subscriber can cover himself, for seven years, against a capital loss of 30,000 or 50,000 euros (independently of the value of the property), for a premium of, respectively, 495 or 625 euros. “The purchase price retained includes the price of the property, notary and agency fees and 50% of any work », specifies Christel Caterino.
Let’s take the example of a couple who buys a house for 210,000 euros, or 250,000 euros all costs included. If he divorces within the following 7 years and if he sells the house for 200,000 euros due to the contraction in real estate prices, the 50,000 euros loss will be fully covered if the couple has subscribed to the guarantee best-priced resale at “NousAssure”.
Safeguards placed by the insurer nevertheless exist. The loss of employment must therefore result from a dismissal and nota conventional termination. And there are waiting periods of nine months from the authentic signature of sale for the implementation of the resale guarantee for multiple births.
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