If it did burn down, you should be able to get out of the contract.
If you want the property, or in case you cannot pull out for some reason, insurance would be a good idea before settlement, it would be an interesting claim though. Insurers will take your money, so you must be able to claim once settled.
If your not going to set foot onto property until inspecting before settlement, then I would like to hear arguments as to why you would get insurance until you were about to inspect & proceed to settle, as I believe in NSW you would get out of standard contract unless the dwelling was not considered an improvement
If you want the property, or in case you cannot pull out for some reason, insurance would be a good idea before settlement, it would be an interesting claim though. Insurers will take your money, so you must be able to claim once settled.
If your not going to set foot onto property until inspecting before settlement, then I would like to hear arguments as to why you would get insurance until you were about to inspect & proceed to settle, as I believe in NSW you would get out of standard contract unless the dwelling was not considered an improvement
