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Vendor/Buyer Responsibilty damage prior to exchange

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filmekanik
filmekanik Posts: 3 Newbie
edited 28 November 2011 at 2:14PM in House buying, renting & selling
I recently bought a freehold property.
«1

Comments

  • Emmzi
    Emmzi Posts: 8,658 Forumite
    1,000 Posts Combo Breaker
    he will have a financial loss if you sue him BUT what does your solicitor say?
    Debt free 4th April 2007.
    New house. Bigger mortgage. MFWB after I have my buffer cash in place.
  • nomoneytoday
    nomoneytoday Posts: 4,871 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    AFAIK completion condition should be the same as exchange, as you mentioned above.
    As the pipe burst before completion it's become your problem. IANAL :(
  • DVardysShadow
    DVardysShadow Posts: 18,949 Forumite
    filmekanik wrote: »
    The insurance company (we are both with the same one) says this happened prior to my policy (so I cannot claim) and says he cannot claim anymore as he is no longer suffering a financial loss.. So I'm in a grey area. Tough luck apparently..
    Remember that the Insurance Company is not bound to give you an honest answer to a question which they can only answer with their hat on as the other guy's insurer.

    Their word on this is far from final, they are licensed to fob you off on anything other than your insurance contract.

    Did your solicitor not advise you to insure from exchange of contract? Any reason why you did not?
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • stokesley
    stokesley Posts: 219 Forumite
    Tenth Anniversary
    edited 26 August 2011 at 4:33PM
    DVardysShadow wrote: »
    Did your solicitor not advise you to insure from exchange of contract? Any reason why you did not?

    Allegedly happened day before exchange, so would not have been covered.

    Do we assume that the remedial work done by the insurer for the vendor prior to completion is unsatisfactory?
  • filmekanik
    filmekanik Posts: 3 Newbie
    edited 28 November 2011 at 2:14PM
    Yes this happened



  • Cheeky_Monkey
    Cheeky_Monkey Posts: 2,072 Forumite
    Just a thought but I'm wondering whether the vendor's insurance claim could be considered fraudulent as exchange had taken place before his claim was dealt with and the work was not done?
  • john_white
    john_white Posts: 545 Forumite
    how do you know the pipe burst 1 day before exchange? I would have thought that if the vendor made a claim and the insurance company have not carried out the repair it is the insurance company at fault. I would not have thought they would just hand over a cheque or this would happen all the time.

    Sell house, brak pipe, exchange, get a cheque, move on. Worst case scenario exchange doesn't happen, you get a new interior!

    But I'd like to know really how you know this happened on the day prior to exchange.
  • filmekanik
    filmekanik Posts: 3 Newbie
    edited 28 November 2011 at 2:14PM
    ok thanks that helps
  • stokesley
    stokesley Posts: 219 Forumite
    Tenth Anniversary
    I'm not sure there's anything you can do apart from see a good litigation lawyer and take advice. Have you spoken to anyone yet?

    If there is no comeback, it's simply appalling...
  • john_white
    john_white Posts: 545 Forumite
    filmekanik wrote: »
    The insurance company has said that is when he first contacted them regarding this claim.

    should the insurance be discussing clients claims with you? If they are saying a claim was made and they bodged the repairs then blame lies with them, else with the vendor.
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