Property on fire before settlement
- Thread starter wll6568
- Start date
Question?
1.Do you have insurance?
2.Do you have insurance?
3 Do you have insurance?
4. etc
Get on the phone NOW and get some.
normally I say I hope this helps
1.Do you have insurance?
2.Do you have insurance?
3 Do you have insurance?
4. etc
Get on the phone NOW and get some.
normally I say I hope this helps
What have you agreed to in the contract?
Okay, there was a fire happened on the 11th floor a week after I signed the contract, which was a month ago. Settlement will be in next week. I just found out about the fire like last week. I called the building manager and he said it's nothing big deal, but it could be worthwhile checking the floor board internally, to make sure no water damage as the springkle system went off in the common area, which could possibly get into the unit underneath the door?...
Now, I just want to get some advice here, on what sort of things I should check, and could do in this situation. In the contract, it says vendor is responsible for any damage happened before settlement. Is it worthwhile for me to hire a property inspector to look through or...?
Now, I just want to get some advice here, on what sort of things I should check, and could do in this situation. In the contract, it says vendor is responsible for any damage happened before settlement. Is it worthwhile for me to hire a property inspector to look through or...?
Hi wll6568,
In vic,you view the prop before settlement and if there's any issues you convey the issues to your solicitor/conveyancer.
I'm under the impression that in vic you can opt out of the contract if prop is not in the condition as inspected?
I dunno,anyone?
Also i presume in vic any issues are the vendors responsiblity and are to be rendered or adequate compensation?
I dunno,anyone?
I could g.o0gle but thought it maybe applicable for the op,
Cheers Spades.
In vic,you view the prop before settlement and if there's any issues you convey the issues to your solicitor/conveyancer.
I'm under the impression that in vic you can opt out of the contract if prop is not in the condition as inspected?
I dunno,anyone?
Also i presume in vic any issues are the vendors responsiblity and are to be rendered or adequate compensation?
I dunno,anyone?
I could g.o0gle but thought it maybe applicable for the op,
Cheers Spades.
I've got a sneaking suspicion that this topic has been covered before. Around the time of the horrific bushfires in Vic a few years back.
I seem to recall that if you exchange on a property unconditionally and it then burns to the ground, you are still required to settle with no compensation from the vendor (unless its in the contract of course but who would do that).
This is why you need to take out insurance at exchange......but very few people do.
btw I have a very bad memory
Check with you solicitor/conveyancer
I seem to recall that if you exchange on a property unconditionally and it then burns to the ground, you are still required to settle with no compensation from the vendor (unless its in the contract of course but who would do that).
This is why you need to take out insurance at exchange......but very few people do.
btw I have a very bad memory
Check with you solicitor/conveyancer
