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Binder

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Sam Site Admin Joined: 21 May 2005 Posts: 198 Location: CALIFORNIA 92.34 Dollars($)	Posted: Fri Apr 09, 2004 3:50 am    Post subject: Binder Binder is an agreement between a buyer and a seller to purchase real estate. A binder secures the right to purchase real estate upon agreed terms for a limited period of time. In case of insurance policy related to real estate, an insurance binder or simply a binder implies a legal document that is issued by an insurance agent. A binder proves that the insurance is temporarily in effect and also gives a summary of the coverage of the policy. It is often issued at or prior to real estate closing. A binder ensures insurance coverage till a permanent policy is obtained.

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