Vendor insisting I perform pre-exchange viewing alone and cannot bring builders or trades

Sistergold

Shocking as it might insurance can(may be left to) run out for various reasons, it still does not mean there is anything wrong with the property. People do very funny things to save very little money. I told my then partner when I moved out(separation) that I was going to stop insurance on x-date if he could get a new policy as I had moved out. When I stopped it I told him it will stop x-date. He said he will.  2yrs later I discovered(in process of selling) he had not bothered to get property insurance for the property which we jointly owned while he was living in it. Luckily the house did not fall down. 

theoretica

I would suspect the vendor knows someone who sold a property and had the price reduced at the last minute because of quoted costs - or made a nuisance of themselves measuring up/wanting to take ages investigating things in detail.

As well as going with your partner, take a copy of the survey as you might want to check things against it if you wonder if something has changed.

climbthatwallseegar

Folksriker said:

Doozergirl said:

I've bought that many houses and would never know whether they were insured or not.  It's just interesting that the buyer even knows this.  

It's a strange thing not to have, but how someone else views a risk doesn't impact on the buyer as long as they insure correctly at exchange.

Currently buying and the vendor had to fill in whether the house is currently insured (it isn't!) on the TA6 property information form, and give a reason why if not - is this a new thing?

I bought a new build before this house so the issue didn't come up. I actually thought buildings insurance was a condition of most mortgage agreements and was surprised when the vendor declared she didn't have this in place.

climbthatwallseegar

The vendor offered on her onward purchase without viewing it. She saw it online and e-mailed the EA with her offer. Just to give you an idea of her appetite for risk.

penners324

Wonder what state the place will be in after today....

youth_leader

Is it possible she couldn't insure the property?  Subsidence or flood perhaps? 

GDB2222

If it’s been empty for a while, it’s expensive and difficult to insure. Insurers usually want weekly inspections, for example. If the vendor is quite wealthy, she may have decided it’s not worth bothering with. 

climbthatwallseegar

She currently lives in the property. Not wealthy and the over sharing EA told me she is in a lot of debt hence her selling up.

She declared no flooding or subsidence on the PIF but who knows?

I think I’ll do a drive by tomorrow… 

saajan_12

warby68 said:

I find the no insurance more of a red flag tbh

No trades might simply be to avoid a last minute request to drop the price because such and such will cost £x

Why is the no insurance a red flag at all? People have different attitudes to risk and saving the £300 premium.

• If there was an issue prior to exchange, then this would be uninsured for vendor. However any payout would go to vendor and buyer has no claim on it, as they're buying the property in the condition as at exchange. 
• If there was an issue between exchange and completion, buyer would insure which can underwrite (plus potentially a claim on seller for not handing over the property in the same condition).  
• If there was an issue after completion, this is the buyer's responsibilty and covered by their insurance. 

The no tradies could be to avoid the hassle, or could be because they're hiding something.. 

macman

At best she's just eccentric. At worst, deranged. Anything that would prevent you proceeding should be perfectly obvious on a walkaround.
My concern would be that anyone who behaves like this, and neglects to insure their own property, is likely to pull further surprises down the line towards exchange. She could just withdraw at the last minute.
But, then, so could anyone. If you still want to buy, you'll just have to be prepared for her eccentricities.