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Old 01-06-2017, 01:31 PM
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Join Date: Jun 2017
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Default Indemnity Insurance

We are nearing towards the completion of a property It seems we have hit a bit of a stumbling block - the vendor's solicitor has not been able to produce any planning / building reg certificates for the removal of an internal wall and for the kitchen extension. It was stated the work was completed before the seller had moved in and the work was potentially many years old. The vendors are offering to purchase an indemnity insurance however it seem this doesn't really cover us for much. Obviously we are concerned the lack of certificates devalues the house and this cannot be rectified by contacting the Council without nullifying the indemnity insurance.

I heard this is quite common but without the right certificates it seems we cannot guarantee the quality of the work. The Home buyers survey didn't identify any structural problems.

Given the above we are thinking of making a lower offer on the property, but would be grateful for your thoughts on this approach? It seems to be a bit of a loose loose situation.

Thanks
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Old 02-07-2017, 02:55 PM
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Default Re: Indemnity Insurance

The work was undertaken many years ago and the vendor has lived at the property for a long time(?) without any issues. Your survey indicates there are no structural problems.

If the vendor, who didn't have the work undertaken, is willing to obtain indemnity insurance to try to overcome this stumbling block, and you like the property so much to carry on with the purchase what is the problem?

Are you yourself going to contact the Council and have Building Control check the property and obtain certificates when you sell the house. Are you going to sell the house below market value, as you may wish the vendor to do so now, when you come to sell if you don't have building certificates?


Are you looking to stay in the house a long time?
What part of the country are located as some property sells no matter what?
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