For real estate developers and home builders
Specialized business needs call for specialized skills – like subdivision bonds. Our Liberty Mutual Surety Plus™ underwriters bring decades of subdivision bond experience to their work. They’ve seen the ups and downs of multiple housing markets. Most of all, they understand the needs of real estate developers and home builders.
Subdivision bonds – or plat bonds, as they’re also called – are often required by municipalities for development projects.
Liberty Mutual Surety has the capacity to handle these requirements with ease. We work with private and public homebuilders, commercial developers, and land and lot developers of all sizes.
Developers and builders can enjoy a number of advantages with subdivision surety bonds, including:
- Better access for developers to cash, line of credit, or borrowing capacity
- No automatic forfeiture in the event of a claim (in contrast to a letter of credit)
- If a claim arises, a surety bond can help minimize disputes and losses
- For developers who need a performance bond to guarantee required subdivision improvements, we also provide a warranty/insurance bond for a year, at no extra cost