Originally Posted by
cfoster
I see where your coming from but what for arguments sake we have exchanged contracts, I have the building insurance in place and the current vendor decides she wants to cause damage 'accidently' before completion. Who would be liable? Would I have to claim on my insurance and lose my no claims discount before i've even moved in?
Chris
yes, but you would not know anyway until you were given the keys, its a quirk that I was not aware of, or any other people I spoke to until I bought my current house and looked into it. You would have to claim against your insurance and they make a civil claim against the seller.
The other grey one is if you have building and contents together as from the date of exchange your contents ins also gets transfered to the new address, but are actually still located at the old address
edited to say if they burned the house down in between exchange and completion you would still be legally obliged to complete and buy it, in practice your solicitor would have to start earning his money and delay completion