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Hi Guys, Check out "My Property Nightmare" in API June edition. Thanks to all for your help whilst this was going on! Cheers

Once it was determined that her insurance would not cover the fire then I was able to offer another price. The solicitor told me that if the price was acceptable then I would agree to purchase at the new negotiated price and I will fix the damages. The other scenario was that the vendor rejects...

Wow, I am truly disappointed. Ozperp so if I took this up with the OIS there is a good chance that I could have had the house repaired based on what you were advised?

Wow Ozperp. thank you for posting that. I think i may have made a very big mistake based on reading your post. I actually did make a claim but my insurance refused it on the basis that the house has not settled and it should go through the vendors insurance. I did notify my insurance that...

That is good to know. The Vendor couldnt speak english and hence couldnt dispute the findings. I would not have rolled over so soon. I am with AAMI at the moment and very happy.

You dont need the insurance. From my understanding they only make you get it so that on the day of settlement you are covered and the banks do not lose out on their value if anything happens on that day. THats the only thing I can think of.

Hi, For me as soon as any of my IP become vacant I will notify the insurance regardless because I dont want to risk it. The insurer was comminsure and they are a good insurer. The vendor had a good policy too however as you said the house had been vacant for over 60 days. The agent recommended...

UPDATE: Hi Guys, Things turned out not the way I wanted at all. As you know I offered 240K on house, we exchanged and then a few weeks later the house burned down. It was a big fire and I was quoted by several buildiers that it was going to cost me around 80k to repair. My insurance...

Hi Missmuffit. I am in the same boat as you. I was encouraged to take out insurance from when I exchanged contracts just to be safe and for the extra cover yet I found out when I logged my claim that I am not liable untill settlement. This is why I dont understand the insurance before settlement...

Update: Even though I did take out insurance from the day I actually exchange contracts it seems like it did not matter. When I rang to make a claim the initial claim was accepted but then I received a call from the legal department advising me that because I am not the owner yet(settlement)...

I am so glad I took out insurance one day after I exchanged contracts. Let this be a warning to others. Make sure that you get the building insurance from the day you sign the contracts. . I dont know who's problem it is yet but I do feel a whole lot better because I have taken out the...

Hi All, Just bought IP 2 weeks ago. I exchanged early last week and am due to settle in Janruary. I just recieved a call from the Agent advising that the house has burnt down. Two of the rooms are totaled and she beleives its not quite salvagable. There is graffiti everywhere inside also. ...