House insurance before completion

CJScat

Looking for advise.
The vendor of the property I am buying has included a clause stating that they insist that I take out insurance for the property before the contract is signed regardless of the time between signing and completetion.
Is this kind of clause par for the course?
My worry is that they are to emigrate hence the fact they are selling.
They are to remove lots of items listed on the fixtures and fittings list and worry that if they leave a mess in their wake I will be left claiming on the new insurance.

davidmcn

CJScat wrote: »

Is this kind of clause par for the course?

In England and Wales, yes.

CJScat wrote: »

My worry is that they are to emigrate hence the fact they are selling.
They are to remove lots of items listed on the fixtures and fittings list and worry that if they leave a mess in their wake I will be left claiming on the new insurance.

Not sure quite what you're getting at - them "leaving a mess" isn't going to be an insured risk, no matter who is insuring. It may well be a breach of contract though.

anto164

If you're mortgaging, then a clause if the mortgage will also be the house insurance! Once the contracts are exchanged - you're committed to buy.

hb2

CJScat wrote: »

Looking for advise.
The vendor of the property I am buying has included a clause stating that they insist that I take out insurance for the property before the contract is signed regardless of the time between signing and completetion.

What do you mean, exactly? You are obliged to insure the property once contracts have been exchanged - but not before.

G_M

CJScat wrote: »

...
The vendor of the property I am buying has included a clause stating that they insist that I take out insurance for the property before the contract is[STRIKE] signed [/STRIKE]exchanged?regardless of the time between [STRIKE]signing[/STRIKE]exchanging and completetion.
Is this kind of clause par for the course? Yes - Standard Conditons of Sale 5th edition below
My worry is that they are to emigrate hence the fact they are selling.
that ha nothing to with it

They are to remove lots of items listed on the fixtures and fittings list and worry that if they leave a mess in their wake I will be left claiming on the new insurance.

You could not claim on insurance for this.
Your contract with the seller requires them to hand over the property in the condition it was in at the date of Exchange of Contracts.
The F&Fs form (TA10) lists what should be included/excluded in the sale.
If the sellers breach those terms of the contract, your come-back is legal acion against the sellers, not an insurance claim.


https://www.lawsociety.org.uk/support-services/advice/articles/standard-conditions-of-sale/


Are you doing the conveyancing yourself?
If yes -stop. You do not know enough to do this.
If no, why is your conveyancer not advising you on insurance? Have you asked?


(all the above assumes England/Wales)

CJScat

I received the documents from my solicitor by post on Saturday so couldn’t contact them until today.
It seems my solicitor is out of the office until Thursday so I intend to speak to her then.

AlexMac

Check your lender's insurance offer. Mine, the nationwide, offered free cover from exchange if i took up their slightly toppy home insurance. So i did, to save messing about, then shopped around for a cheaper deal next year

Dean000000

Frankly you’d be stupid not to get insurance between exchange and completion

Get it done just in case

CJScat

They are asking me to insure from the moment I sign the contract.
The vendors F&F form states she wants me to pay an extra £3000 for built in units in rooms which were supposed to be originally in with the sale.
As yet my solicitor hasn’t had confirmation if the vendor will stand by the what was offered in the house brouchure, if they do remove said items tiles walls, plaster and good quality laminate flooring will all be adversely affected.
The vendor is moving to the other side of the world and currently spends most of her time there,so I feel uncomfortable to sign until I know the state the property will be in when I take it on.
I haven’t come on here to infuriate anyone. But imagine if you are taking on the biggest purchase of your life, this is the first time you have bought a property, you are a single parent with no one to discuss the process with and just want some reassurance from someone who has done this before.

Surrey_EA

Signing the contract does not commit you to anything, it is only when contracts are exchanged that the purchase becomes legally binding.

Could there be confusion, perhaps on the part of the vendor from whom you are hoping to buy, as to the difference between signing the contract and exchanging contracts?

It is standard procedure for the purchaser to insure the property from the point of exchange.

hazyjo

CJScat wrote: »

They are asking me to insure from the moment I sign the contract.

Perfectly normal (Actually misread that, no - you insure from exchange!)

CJScat wrote: »

The vendors F&F form states she wants me to pay an extra £3000 for built in units in rooms which were supposed to be originally in with the sale.
As yet my solicitor hasn’t had confirmation if the vendor will stand by the what was offered in the house brouchure, if they do remove said items tiles walls, plaster and good quality laminate flooring will all be adversely affected.
The vendor is moving to the other side of the world and currently spends most of her time there,so I feel uncomfortable to sign until I know the state the property will be in when I take it on.
I haven’t come on here to infuriate anyone. But imagine if you are taking on the biggest purchase of your life, this is the first time you have bought a property, you are a single parent with no one to discuss the process with and just want some reassurance from someone who has done this before.

Okay, wait for confirmation that she's leaving it all. But expect her to take lightbulbs, toilet roll and not to clean the house.

NOBODY can reassure you, as whatever she signs it doesn't mean she'll do it. You would have to sue afterwards. You wouldn't be claiming on insurance for what you've mentioned.


So, wait for the written confirmation, but please don't take it as gospel. You still may end up with a battle on your hands. Hopefully not, but just be prepared.

PS as above - signing means nothing until you actually exchange. But I prob wouldn't want to waste my time signing until I knew for certain she was agreeing in writing to leave the stuff.