Can I delay exchange due to damage?

plaidparty

I have just been informed by voicemail that there is roof damage to a property I am buying. I was supposed to exchange on Friday and so haven't sent the deposit etc to Solicitors yet (was going to do that Monday).

The property is in a tenement so is covered by the building insurance through the factors. Although the EA on the message said there would be an ongoing insurance claim.

I will go and see the damage on Monday but just wanted to understand if it is reasonable for me to delay exchange until this is fixed. I really don't want to be the one dealing with leaks/damage when it wasn't my home at the time.

Thanks for your thoughts.

G_M

Untill Exchange you can delay, withdraw, change the price, whatever.

davidmcn

Exchange and deposit sound like you're buying in England, but tenement and factors sound Scottish - where are you buying? In any event it seems reasonable to delay until you find out more.

plaidparty

Its in Scotland.

G_M

plaidparty wrote: »

Its in Scotland.

Then ignore me.

bbk87

I would double check RE that insurance claim.

I have had policyholders cancel their claim when they moved out of the property on that day and deciding 'it wasn't their responsibility anymore'.

plaidparty

Thats what I am worried about.

It is a joint factors fee but I really don't want to be liable for any excess fee/ongoing claims.

davidmcn

Unless something unusual is in the missives, costs for any work instructed by the factors before your date of entry will be the seller's responsibility (and there will usually be funds retained for anything not yet billed but expected). But you might want to check any practical issues if there is damage to the flat or access needed for repairs etc.