Trawick International: AssureClose to Insurance Real Estate Transaction [Professional Services Close – Up]

AssureClose is a brand new insurance product and a solution to insure the real estate transaction against the accidental death of a buyer, according to a release from Trawick International.

In a release, the Company noted in the event of an accidental death of a buyer, AssureClose will purchase the home from the seller so all parties are relieved of a costly experience.

An average policy costs the seller, Realtor or brokerage less than $100.

Daryl Trawick, President of Trawick International and founder of AssureClose, said, "After learning of a friend who experienced the loss of her partner while buying a home, and the chaos that occurred, I realized that no one had developed an insurance product to cover this vexing problem. Considering the possible lawsuits, loss of earnest money, the loss of a home that the seller may have already been in contract to purchase and other major life disruptions made me realize the importance of creating a new type of insurance product protecting the real estate transaction and all the parties involved."

AssureClose operates by the Realtor, buyer or seller logging onto the AssureClose website and obtaining a quote for the insurance policy based on the price of the house and length of coverage they need to cover the escrow period. The Realtor uploads the purchase agreement and the addendum to the website. Once there is an accepted purchase agreement between both parties, the coverage goes into effect. AssureClose will bill the designated closing company when the transaction closes successfully. If the sale falls through then no premiums are due.

"Accidents are the fifth leading cause of death in America. When an accidental death occurs in the middle of a home sale/purchase, the buyer's partner and family are in distress, the seller no longer has a buyer, and both Realtors lose time and money in re-starting the transaction. I created AssureClose to help all parties involved in the transaction during a tragic time. This new product creates a win-win for the Realtors and their clients," Trawick said.

Trawick International is a worldwide provider of special risk insurance products.

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