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Building insurance after exchange
safetyzone
Posts: 11 Forumite
Needing some advice on this as our solicitor is away at the moment...
We sold our property to our neighbour and bought a new house, contracts have been exchanged and completion is due in 6 weeks time. We have arranged the building insurance for our next property but our neighbour (who is also our freehold secretary) sent us a bill for the building insurance for our current flat from now until completion.
Are we legally obliged to pay for this?
Many thanks in advance.
We sold our property to our neighbour and bought a new house, contracts have been exchanged and completion is due in 6 weeks time. We have arranged the building insurance for our next property but our neighbour (who is also our freehold secretary) sent us a bill for the building insurance for our current flat from now until completion.
Are we legally obliged to pay for this?
Many thanks in advance.
0
Comments
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But you still own your current place until legal completion so need to insure it. What if it burns down whose insurance will pay for it?A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0
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Thanks chickmug.
It will be the same insurance whether we pay for it or not (if we weren't moving our neighbour would have arranged for the insurance and charge us for the full 12 months). It's just a question if we're legally liable to pay for these few months.0
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