PeterSaxton wrote:
On 20 June, 11:21, Gareth wrote:
PeterSaxton wrote:
On 20 June, 10:22, Gareth wrote:
PeterSaxton wrote:
On 20 June, 09:44, Gareth wrote:
Is it possible to take out an insurance policy which will refund costs
(e.g. survey and conveyancing costs) in the event of a house purchase
falling though?
I have seen this discussed in a few forums but none of the links to seem
to exist anymore.
Thanks for any help.
Gareth
I wouldn't have thought it would be easy to get for two main reasons:
So far, it doesn't seem to be easy to get.
1. the insured would be able to ensure he gets a payout
Isn't that true of almost any insurance? E.g. I could insure my
house/car then set fire to it? Anyway I wouldn't be able to profit from
the payout since it would only cover costs.
You wouldn't receive a payout if you set fire to your own house.
Not if they found out that I did it deliberately, but I imagine that
home buyer's insurance would include a similar condition whereby the
policy wouldn't pay out if I did something to prevent the sale going ahead.

How would they be able to show who's fault it was the sale didn't go
ahead?

What I'm looking for is an insurance policy which will pay out if I get
gazumped or if the vendor decides not to sell.

There may be grey areas as to who's fault it would be that the sale
didn't go though. However, car insurance seems to be possible despite
the difficulty in deciding who's fault an accident is when both parties
blame the other.

I can't see how deciding whether or not a claim on a home buyers
insurance policy is valid is fundamentally any more difficult than
deciding if any other claim is valid.

--
-----------------------------------------------------------------------
To reply to me directly:

Replace privacy.net with: totalise DOT co DOT uk and replace me with
gareth.harris