We sold our flat and are due to exchange contracts soon. In the meantime the flat roof has leaked and cracks appeared due to subsidence. Is it the responsibility of buyer to have their surveyor find these problems or is it reasponsibility of seller (me to fix up before completion?
2006-10-07 00:42:36 · 6 answers · asked by Maxblax 2 in Home & Garden ➔ Maintenance & Repairs
Until you have exchanged contracts this property is yours and therefore your responsibility.
Yes, the buyer may or may not have had a survey done and may or may not be aware of this problem, but until exchange of contracts, it's not their problem.
If you don't attempt to deal with this issue you may lose the sale as until contracts are exchanged the buyer can back out any time they like. If they decide not to back out they can ask/demand a refund to the value of remedyings the subsidence.
Additionally, there are new rules about disclosure, so even if the buyer had had a survey done and it didn't show at the time, and even if you weren't aware of it then - you are now. You are obliged to inform the buyer and offer rectification at your own cost.
If you don't and allow the sale to go through - then you are setting yourself up for a whole heap of trouble as there are facilities within the new rules for the buyer to sue you not just for the cost of the works, plus interest, but for the fact that you 'lied' by not informing them and thereby giving them the choice of withdrawing or not. You really need to speak with your solicitor urgently.
2006-10-07 06:53:59 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If the legal exchange of the property hasn't occured, then you are definately responsible. If the legal transfer of the property has taken place, then unfortunately you may still be responsible because it is a latent defect. A problem which occured or started when you owned and occupied the home, but wasn;t discovered until after the legal transfer of the property. In other words, a problem that you were unaware of when you lived there, but a problem the new owner can't be held repsonsible for because of the type of problem it is. A roof leak is the type of problem that occurs over time, not suddenly, unless a tree were to fall onto the roof, (a sudden act, which is what insurance is for) then it becomes an insurance problem.
2006-10-07 08:27:16 · answer #2 · answered by rentahandyman 2 · 0⤊ 0⤋
If I were the buyer I would do a final walk through or have an inspection. A roof leak would be enough for me to cancel the deal. Don't take a chance, fix it. It can wind up costing you more if you don't.
2006-10-07 09:20:44 · answer #3 · answered by zocko 5 · 0⤊ 0⤋
I don't know where you are but here in the U.S. you are still the owner untill closing the deal. That makes you responsible unless the buyer accepts it as it is.
2006-10-07 08:29:47 · answer #4 · answered by morris 5 · 0⤊ 0⤋
Sorry to tell ya, but you will probably have to fix it before everything is a final deal! If it gets inspected, they will give you so long before you have to repair it!
2006-10-07 10:23:07 · answer #5 · answered by MoMmY AlOrA 2 · 0⤊ 0⤋
It is your responsibility - they still have a final walkthrough to do when they could find it, better you fix it than blow the whole deal.
2006-10-07 08:32:31 · answer #6 · answered by Caroline H 5 · 0⤊ 0⤋