Buildings insurance

Crowdedhouse_2

My cousin died some months ago, and her mother, my aunt, will be putting up cousin's house for sale in the near future.


Aunt was estranged from my cousin for many years, cousin was an alcoholic and had cut off contact with all family.


House has various problems e.g. some damp and subsidence to the extension. Aunt was aware some 10 to 15 years ago that cousin's house had been affected by next door neighbour's tree but thought the subsidence may have been sorted out over the years. However, it is quite plain to see that subsidence has not actually been sorted.


Cousin had buildings insurance through her mortgage provider, a high street bank, (there's still a small mortgage outstanding) so we thought when the current insurance runs out at the end of this month that they might allow us to insure the property for a further year, during which time the property might sell. However, the insurance company have said 'no' because the property is unoccupied.


My question, therefore, is does anyone know of a reputable insurance company that will insure a property that is both unoccupied and suffers from subsidence?


Thanks.

dacouch

Get one of your family to live in it and then it won't be unoccupied

eddddy

You will find it difficult to get new insurance if the property has active subsidence.

Are you planning to claim from the current insurers for the subsidence damage? If so, it might be simpler if you didn't change insurers at this stage.

If you decide to sell it with active, un-repaired subsidence, it will only be builders with cash who are interested. You will probably have to sell at auction, and you will take a very big hit on the price.

Crowdedhouse_2

eddddyy, from what we have been told cousin was paid some money from insurance company about 10 years ago to put subsidence right. Looks like she didn't get it done!


Estate agent who recently valued the house said it looked like only the extension was affected and said it would be an easy enough job to just knock down the extension and leave the existing building or else rebuild the extension properly. A second agent told us the same thing. They both said it wouldn't need to be cash buyers only, although possibly a builder may well end up buying it and that interested parties would easily be able to get a mortgage. Both valuations took into account the existing subsidence and valued the property accordingly, well under market value but that's okay with aunt.


But, returning to the insurance side, current insurers that cousin used when she was alive have said a definite 'no' due to property being unoccupied. Property is too far away (over 70 miles each way) for either myself or aunt to live in.