MMD: Should Jeremy and Kirsty come clean?

ohit

Insurance somewhere along the line will cover it, so don't worry about it.

gravitytolls

That's what I figured Seakay. I'm also confused as to the why the lounge has cracked after rain.

Assuming it is actually the first floor ceiling, I would probably want to know why rain water could have affected my home in this way. I'd be afraid of any possible come back's.

But to answer the question, I might mention 'spotting' a crack, andr epaiiring it.

bargainhunter_3-2

A similar thing happened to my family a few years ago.
We sold our house (exchanged contracts) two months before completion and in the period between exchange and completion a large crack appeared in one of the walls because the house subsided. The house had been given a full bill of health in the survey a few weeks earlier.

In the terms of the contract of sale, the buyer was responsible for the house from the date of exchange, but he had not insured the house. Luckily, our buildings insurance was still running, so we were able to claim on our policy for the damage to the house. We were under no legal obligation to pass this money to the buyer, but we did so all parties were happy in the end.

As a few of the earlier posters have said, the house is normally the buyer's responsibility from the date of exchange and they should insure it from that date. If a crack appears, the sellers should not try to cover it up as this would be a deliberate attempt to deceive the buyer. If they did deliberately cover up the crack, the buyer would be able to sue them for not revealing the information.

If Kirsty and Jeremy have already exchanged, they should notify the buyer, but would have no further obligations and the buyer must complete the sale. If they have not exchanged, they should still notify the buyer, but the buyer would probably either withdraw from the sale or demand a discount to cover the repairs. Kirsty and Jeremy's buildings insurance should cover this.

TheFaqqer

Caveat emptor.

Don't cover it up, but don't say anything either.

kamoha

Im sorry I would say nothing, I hope to sell myself in a few months and am desperate to move, that would take precedence for me. However as this is a leasehold I live in its not applicable for this case Even if it was though I would probably say nothing but make sure my insurance was valid in such a case.

MSE_Martin

A clarification:

They have not exchanged or completed - the plan is to do both on the same day in three days time.

Martin

Becky12

I've been on the receiving end of a similar situation.

Bought fairly new house, advised by both solicitor and surveyor that a full structural survey wasn't necessary. (paid for professional advise - and took it).

Entry was a good 8 weeks after the surveyor had visited, during this time the owners experienced flood/water damage under the ground floor and didn't come clean.

Our insurance wouldn't touch it because it happened whilst it was under their ownership - the owners denied all knowledge - and I am led to believe claimed for it under their own insurance and put the money towards their new home!

We had to move in with relatives, have all the floors ripped up, joists renewed, cost £1000's, 2 young kids, weeks before Christmas......... say no more! I've tried putting myself in their shoes and under pressure to move etc and yes - we should have had a full survey done ...... but I would have found it slightly easier to take even if they'd moved out, left us with all the upheaval but at least let their insurance cover it. Trust me - the damage isn't just to the house or the bank balance.

purplegaily

I'm an honest type of Girl. I'd be mortified that it had happened, and probably phone the prospective buyers asap. I'd then get on to my insurers and get them to cover it. If it wasn't covered, then I'd panic:eek: !!

The new owners would know how to get hold of me through the various channels (and the fact that I'd probably get them to forward on any post) and I'd hate to be on the wrong end of a legal wrangle - which would more than likely be sorted by insurance that I'm already paying for (it's not like I get a no claims discount on my home insurance premium!)

I'll let you all know when I'm going to sell up next time!!

JayD

Well I don't think I have enough information - or legal knowledge - to give a definitive answer to this but ...

I think I would contact my solicitor and ask him how things stood legally. I may legally be obliged to tell them if it was potentially dangerous. If I didn't have to tell them, I would also want to know just what were the possible legal scenarios if I did.

I would certainly feel morally obliged to tell them and I would have expected that there was some cover/redress for the new buyers either through insurance or the original surveyors. I might also feel obliged to arrange for a survey myself to ensure that the porperty I was selling wasn't potentially dangerous and to establish the cost of putting it right. After all, there may be an amicable means of sorting this out. If the buyers are in a chain, they might not be able to cancel this purchase and it may be everything they have ever wanted - location, size, layout etc. Negotiation is always an option.

To summarise, I feel they should investigate the situation further and will then be in a better position to make decisions and hopefully discuss it with their buyers amicably.

elizabethrose64

I would contact the buyers and discuss the new problem. They could then decide if they were covered by insurance and if not splt the cost of repairs between them. b