Problem after exchange but before completion

Bogof_Babe

Our contracts were exchanged last week, and we are expecting completion on Monday or Wednesday next week. We are the sellers not the purchasers.

However a small problem has cropped up - a displaced roof slate - and I am wondering who is responsible at this stage for fixing it.

Whoever does it will need to get in a roofer, as it is inaccessible without proper ladder, safety equipment etc., so it's not just a question of popping up there and sorting it out.

Doozergirl

I'd try and get it done in out of kindness tbh, but in the cheapest way! I doubt they'll notice straight away but they are paying quite a lot of money for your house , so it's only fair

Think about what you would like your vendor to do in the same circumstances (and we have had wind everywhere!)

Bogof_Babe

Lol, thanks DG, but unfortunately (for us) it was them that noticed it! The first we knew was when their surveyor rang to ask if he could inspect it again. Our estate agents vaguely knew something was up but not any details. This was yesterday, and I've heard nothing further, by my husband popped over to the house today (it's my parents' house we're selling, not ours) and says he can now see what it's all about.

I was wondering about claiming on my parents' home insurance, but once we've completed (any day now) then that's probably invalid anyway, if it isn't already as it was my dad's policy and he is no longer alive.

Oh well, I think we'll wait and see if the purchasers expect us to sort it out, and if so we will do the decent thing, as they have been fair with us and not messed us about.

I will be so relieved when this is all over!

mystic_trev

If contracts have been exchanged, any problems are now your purchasers and they should have had Insurance in place
(prior to exchange of contracts) to cover it. I had some fences blown down when purchasing a house after exchange. The sellers took great glee in telling me it was my resposibility! I did have the last though - but that's another story!!!!

david29dpo

it depends on the contract. responsibility can be passed on at exchange OR completion. ask your solicitor to confirm.

bootman

Yes your insurances have to be in place on exchange, its their problem now not yours.

real1314

not necessarily, you are passing on the property, if it's not as it was on exchange, you may have breached (otherwise you could exchange and then rip out all sorts of stuff).

Herb

They should have been advised to insure the property on exchange. You then insure the place you are buying - you are not then responsible for two properties.

Do nothing - its just a slate

They will not go to war over this;

They have paid a deposit and would like to move, rather than face a court battle..

[Deleted User]

getting it fixed is the nice thing to do. It won`t cost an arm and a leg

courtjester

I believe some of the advice given here is incorrect - the property still belongs to the vendor after exchange and title does not pass to the purchaser until completion.

The exchange of contracts is a binding agreement to sell at an agreed date, ownership does not pass at exchangeof contracts...

Whilst the purchaser has an (insurable) interest in the property following exchange because of a commitment to buy and as such is advised to insure to protect their (future) interest, this is no more than a back up in case the vendor defaults on their responsibility or the house burns to the ground and the purchaser (who is bound to purchase) finds the vendor out of funds to reinstate the destroyed property.

So the situation in the case of the slipped roof tile is that this is the *vendors* responsibility to fix - they have agreed to hand over the property in the condition at which it was agreed at the point of exchange. If that condition changes, they must address it or pay compensation.

The vendors insurance will cover the cost of repair if this is due to an insured risk - in view of the recent storms, it is suggested that this will be storm damage. Notice of the date of damage shoul dbe given immediately to the vendor's insurers - it doesn't matter that the loss will be dealt with after completion, it is the date of damage that counts.

PoorDave

While the OP said "so it's not just a question of popping up there and sorting it out." for a roofer it probably will be! Shouldn't cost much, get it done, feel good about yourself.

IMHO "doing the right thing" in this case is more important than quibbling over a small bill.

I'm assuming that the house is near to you, so arranging the above won't be too much of a pain.

As far as whose responsibility it is, i'd like to think that if you don't have the cash from the sale, then you still own the house!