in nsw, when purchasing a property, at what point should one arrange insurance? just after exchange? after settlement? ive had conflicting answers, some say after exchange to protect yourself and some say after settlement because its not actually yours till settlement and you can walk away from it if something happens (would this forfeit the deposit?).
when to insure?
- Thread starter pete_w
- Start date
People in the past have recommended that it be insured after exchange- "just in case".
http://www.somersoft.com/forums/showthread.php?t=23063
http://www.somersoft.com/forums/showthread.php?t=22581
http://www.somersoft.com/forums/showthread.php?t=23063
http://www.somersoft.com/forums/showthread.php?t=22581
Hiya
Insure from the day where you could end up with a liability.
In NSW thata from day of exchange, in many other states its on the day you are happy with the pest and build and commonly at or before finance approval and "unconditional" contract.
The few extra bucks for a months cover arent worth the stress if the place burns down between exchnage and settlement.
ta
rolf
Insure from the day where you could end up with a liability.
In NSW thata from day of exchange, in many other states its on the day you are happy with the pest and build and commonly at or before finance approval and "unconditional" contract.
The few extra bucks for a months cover arent worth the stress if the place burns down between exchnage and settlement.
ta
rolf
