The Consumer Real Estate Settlement Protection Act (CRESPA) Requires licensed Virginia attorneys, Title Insurance Companies and Agents, Real Estate Brokers and Financial Institutions (or a subsidiary or affiliate thereof), who serve as Settlement Agents and conduct residential real estate closings for members of the public to provide a $200,000 surety bond.
Bonds Express offers a Virginia Title Insurance Settlement Agent & Attorney Settlement Agent (CRESPA) Surety Bond with a 99% approval rate.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. Virginia Settlement Agent Bond holds you accountable for your business decisions.
By possessing a Virginia Settlement Agent Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.