by Mike W. Smith President
The collapse of the real estate market and the high incidence of foreclosures has created a new service offered by many real estate agents and brokers; Receivership Services. It may seem like a natural extension of real estate services, but when it comes to your errors and omissions insurance policy that may be a different story as such services are often not covered by your current E&O policy. Receivership services often include additional services such as arranging for insurance, refinancing, construction management, maintenance and even redevelopment. We encourage you to review your current E&O policy with an agent.