We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Indemnity policy?
reggie
Posts: 210 Forumite
We're in the process of selling our house - it was built about 50 years ago and the firm of builders no longer exists. When they were built there was a covenant on them regarding changes, extensions etc. Every house in the close has made changes/extensions. Our buyers' solicitors wants us to take out an indemnity policy in the event that the company is reformed...incredibly unlikely but it appears we will have to fork out the money and let the insurance company have some 'free' money - so it seems! Anybody shed any differing light on this sort of situation?
0
Comments
-
i would say "no" and see what they come back with !!0
-
How long ago were your extensions built?
If less than 4 years ago or if you have no building regs certificate I can understand your buyer's solicitor.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
The main extension was built a couple of years ago and had pp and bulding regs - all ok. I think our solicitor is going to go the compromise route and go 50/50 with the buyers on the cost of the policy.0
-
Ẁe had to take an indemnity policy out on our home & it only cost us £21 so don't worry about the cost.0
-
Their solicitor has quoted about £250 - + VAT I assume!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.4K Work, Benefits & Business
- 599.6K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards