Leaving the country and want to sell, but have ongoing insurance claim for loss of water.

Timeforheroes01

In late December we had a one off escape of water from our washing machine (drum seal popped out). We live in a maisonette in London. This flooded our upstairs kitchen and some water came through to our bedroom below. We engaged a loss assessor to act on our behalf (the kind that doesn't take a fee if they can use their contractors to complete the work) and they have been engaged with the claim since. They are still trying to come to an agreement with the loss adjustor/insurance and estimate the works will take around four weeks to complete once started (minor drying plus replacing floor in kitchen and replastering the bedroom ceiling).

Here's the complication, we are leaving the UK in August and want to sell our house ASAP but have been holding off putting it on the market until this is complete. We did not anticipate it taking anywhere near this long to sort out. We would be liable to the loss assessor's fees if we were to pull out of the claim or settle directly with the insurer for cash, which would likely be a significant cost.

The longer it goes on the longer we will have to continue making mortgage payments after we leave the country as we wait for the house to sell. Luckily we do not need the current equity from the house to leave the country so the August date is fixed regardless.

Looking for advice on possible options, e.g. putting the house on the market anyway and telling prospective buyers that the damage will be repaired prior to completion in order to speed up when it will be sold? Visually the kitchen floor looks fairly ok but the damage is visible on the bedroom ceiling.

lincroft1710

Even by putting your maisonette on the market now, there is no guarantee any sale would be completed before you leave the UK. Have you asked local estate agents their views on marketing a property with an undertaking that damage would be repaired prior to completion

Timeforheroes01

lincroft1710 said:

Even by putting your maisonette on the market now, there is no guarantee any sale would be completed before you leave the UK. Have you asked local estate agents their views on marketing a property with an undertaking that damage would be repaired prior to completion

Yes it almost certainly wouldn't and we are fine with this. However our main concern is it being pushed back by another few months due to the works. We spoke to two estate agents, one recommended moving forward and the other recommended waiting 

lincroft1710

Timeforheroes01 said:

lincroft1710 said:

Even by putting your maisonette on the market now, there is no guarantee any sale would be completed before you leave the UK. Have you asked local estate agents their views on marketing a property with an undertaking that damage would be repaired prior to completion

 We spoke to two estate agents, one recommended moving forward and the other recommended waiting 

Speak to a 3rd EA!

sheramber

Without a potemtial date for the repairs to be completed would a buyer be prepared to an open ended situation.

They would have to get a buyer who was prepared to wait an unknown length of time  and so on down the chain.

A FTB may be prepared to wait. 

Once an agreement to go ahead is reached  what guarantee is theri that the work will start right away?

What happens of the person who agrees to buy under these circumstances considers the repairs have not been done properly?

Voyager2002

Try using your insurer's complaints process.The delay is unreasonable.