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Indemnity insurance.

tweeter
tweeter Posts: 3,958 Forumite
Part of the Furniture
edited 6 July 2013 at 2:10PM in House buying, renting & selling
Next Friday we complete the sale of our very old house, which has a tiny conservatory built twenty odd years ago so it doesn't need planning permission. The buyers have accepted this, but my partner says we should get indemnity insurance to cover ourselves in case they come back to us over this or anything else that people can dream up.

Has anybody taken out this kind of insurance and how much would one expect to pay if one did. Thanks for any replies.
Peel back your baby's eyelid to find no nationality or religious identity mark there. Peer at your baby's eyes for them to reflect back just people-throw away your flags and religious symbols...



Comments

  • grifferz
    grifferz Posts: 568 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    I don't see how they can come back to you if you answered all questions they asked and they were satisfied with your answers. It is up to them to demand an indemnity from you if they feel they require one, I would have thought.

    Assuming you did not mislead or lie to them when answering their questions, what would be the basis of their come back?
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Have you lied to them?

    If yes - indemnity insurance will not pay out.
    If no, you don't need indemnity insurance.
  • tweeter
    tweeter Posts: 3,958 Forumite
    Part of the Furniture
    edited 7 July 2013 at 10:12AM
    No I've not but my partner gets a bit paranoid and the solicitor pushes these things.
    Peel back your baby's eyelid to find no nationality or religious identity mark there. Peer at your baby's eyes for them to reflect back just people-throw away your flags and religious symbols...



  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    tweeter wrote: »
    No I've not but my partner gets a bit paranoid and the solicitor pushes these things.

    :eek:

    The solicitor is unlikely to push, oreven suggest, this unless the buyer is insisting on it.

    Buyers, and their mortgage lenders, do sometimes insist on IPs for the most pointless reasons.
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