Posted by JohnBoy on June 17, 2002 at 24:03:51:
I believe the errors and ommissions insurance is to cover the realtor for any errors and ommissions on their part, not the seller’s part.
To use a realtor for any purpose other than using one to FIND you a buyer is waste of money! Why would you want to pay 6% commission just to be represented by a realtor if you are procuring your own buyer??? Just for the use of their contract??? That is what attorneys are for! Use an ATTORNEY to represent you and draw up your contract if you need one and pay a few hundred bucks for it rather than thousands to some realtor which is NOT an attorney!
If you need help in finding a buyer then THAT is what you use a realtor for. Other than that you don’t need a realtor and a realtor would be the last person I would use for ANYTHING other than having one to list my property to help find a buyer quicker!