Need a quick answer - house exchange today

[bellylaughs]

Please can someone advise? Our house sale is about to fall through today because our buyers got a survey done which showed that’s there was tree root damage to the drains outside under the drive way. Now they can’t get insurance on our house to exchange today because of the tree roots.

We’ve never had a problem with the drains and I suspect every house on our (tree-lined 1930s) road must have the same issue.

Has anyone ever had this? I’m just staggered that this issue is going to collapse the whole chain

Apparently the buyer works in insurance industry and has disclosed the survey to everyone she has sought quotes from. Hence no one wants to take it on. Surely there’s a way to build in an exemption clause or something??

Ps. We’ve already discounted the sale price by the amount of the quote to get the drains fixed.

Speak to your current insurer to see if they will insure your buyer.

@NoSquirrels

Speak to your current insurer to see if they will insure your buyer.

This! Claim on your insurance? Ask the company if they can continue the policy. We've done this previously.

When is the expected completion date? Or were you trying for contract exchange and completion on the same day?

If the completion date is far enough in the future, could you get the drains fixed before completion (and then have the sale price back up to the original amount before the discount?)

Failing that - they need to go to a specialist insurer temporarily until the drains are fixed (that would be with them taking the discount and sorting the issue themselves). www.homeprotect.co.uk/ are one such but there are many others - plenty of insurers exist to provide cover to properties that don't tick all the boxes for the mainstream risk-averse companies. Once the drains are fixed they will be able to go back to the mainstream suppliers again.

Thank you for all your ideas. In the end they managed to get Insurance from a specialist provider as you suggested @SinoohXaenaHide

We had given them a deadline after so much messing us around of 3pm today and estate agent rang to say they got insurance at 2.59! So it seems it worked. We exchanged at 5pm.

@NoSquirrels and @PlasticFreeIn2022 we had already suggested this and given them our insurance details but it seems our provider wouldn’t continue with them. Not sure why.

Anyway, panic over all sorted! Thank you all!