House flood after exchange of contracts but before completion

Judith_W

I'm sure the seller has to ensure the property is in the same material condition as before exchange - fair enough if they are taking property and those things agreed on the fixtures and fittings list, but they will need to rectify the flood damage before you are obliged to take ownership.

Richard_Webster

I'm sure the seller has to ensure the property is in the same material condition as before exchange - fair enough if they are taking property and those things agreed on the fixtures and fittings list, but they will need to rectify the flood damage before you are obliged to take ownership.

Not unless the contract uses the Standard Conditions 4th Edition and condition 5.1 has not been removed - otherwise it is down to the buyer and his insurers.

Really up to buyer to investigate the position.

zzzLazyDaisy

OP, just out of interest, if you go to moneysupermarket, there's an article about flood damage and how to make a claim.

Dx

goldmask

Richard_Webster wrote: »

Not unless the contract uses the Standard Conditions 4th Edition and condition 5.1 has not been removed - otherwise it is down to the buyer and his insurers.

Really up to buyer to investigate the position.

I remember that my solicitor also mentioned one particular condition in law before exchange and insisted that vendor to specify in the contract that if the house is damaged by flooding or fire, the completion will not go ahead. My solicitor said that in his 30 years of career, flooding or fire has happened 4 times to his customers between exchange and completion, and every time they got out of the trouble because the solicitor put this condition in the contract. Apparently there is something very vague in the law that many solicitors will miss.

One question to Richard, I understand that building insurance will only cover the legal owner of the property. So if the damage happened before completion, why will the insurer of the buyer pay for the damage? Is there a special insurance covering the period between exchange and completion? Just curious.

rpc

goldmask wrote: »

One question to Richard, I understand that building insurance will only cover the legal owner of the property. So if the damage happened before completion, why will the insurer of the buyer pay for the damage? Is there a special insurance covering the period between exchange and completion? Just curious.

Insurance can cover anyone with an insurable interest (it does not have to be ownership). If your contract makes you liable for certain damage within the normal household insurance perils, then you can get insurance cover.

sgun

http://www.guardian.co.uk/environment/2012/sep/28/flooding-north-east-england-homes-demolished

this was a culvert, don't buy a house on or near a culvert!

zzzLazyDaisy

That's seriously scary :eek:

sabretoothtigger

regularly clear drains etc ( clearly not the case as by daughters boyfriend cleared out of brook a bag of peat, tyres, wheels, cans, bottles even an old duvet and has taken photos of this!)

easy to say afterwards but sounds like something to check before taking that final step and agreeing to buy. At least they got evidence to go forward with

silvercar

sgun wrote: »

http://www.guardian.co.uk/environment/2012/sep/28/flooding-north-east-england-homes-demolished

this was a culvert, don't buy a house on or near a culvert!

We have a culvert at the bottom of the garden. The deeds make us responsible for keeping it clear.

Roger_queen

Just to update. The vendor refused to allow the EA to accompany us to look inside property on Sat and today, said his solicitor would tell our solicitor why! Been to solicitor again today and our solicitor said he was just being awkward but has the right to refuse entry.
Spoke to council who put us onto highways who said that a culvert that is on farmland behind the property is the responsibility of the farmer and not their problem. Suspect the farmer will tell us to do one if we asked him to clear culvert that the highways put in when building the road!
The upshot is that as it has flooded twice in 3 days, ( despite clearing all visible rubbish) we are not going to complete. Decision made, good or bad!