• Why Do I A Gave To Pay For The Contingent Buildings Insurance Indemnity When Selling My Leasehold Flat?

    By Guest on 30th Jan 2020

    I am selling a leasehold flat and I have been asked to pay £185 for the contingent buildings insurance indemnity - why do I have to buy this and not the buyer?

  • 2 Answers

    By Guest on 31/01/2020

    Because you are selling it - the buyer does not have to buy your flat unless the buyer is confident with what you sell.

  • By Guest on 31/01/2020

    There is nothing in law to say that the seller must pay for an indemnity. Normally the seller pays because it is to cover a "defect" in the property and thus the seller's responsibility. However, I have acted for sellers who simply refuse to provide the indemnity - as they are entitled to - and the buyers had to pay for it. The risk is of course that the buyer refuses and walks away from the deal.

    www.notaryexpress.co.uk

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