Insurance against price drops

bpp-ebook-sellyourhomeMortgage broker Greg Williamson has come up with a creative solution to buyers’ fears of a price drop.

The Buyer Protection Plan, launched in January, is designed to protect the buyer for 12 months against a reduction in market value of their home, as the seller places five per cent of the sale proceeds into escrow for a year, guaranteeing market value. If the market falls one to five per cent, then the buyer and seller share the escrow funds proportionally.  If there is no loss in market value, the seller reaps the entire five per cent.

Read more http://bc.ctvnews.ca/buyers-insurance-policy-protects-homeowners-from-price-drops-1.1271390#ixzz2SiwIgACS

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2 responses to “Insurance against price drops

  1. Very clever and operationally free way to make $299 per sale. Good on Greg W.
    What are your thoughts about it Bob? Besides “desperation gimmick”? But that’s probably just my skeptism speaking.

    I admire Greg’s entrepreneurial spirit which exhibits creativity and innovation, and offers consumers additional choices. A good example of a win-win for everyone involved. -Bob

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