Indemnity Insurance for restrictive covenant

[billandbenflowerpotmen1]

Unsure whether to post this here or legal
But does anyone know anything about the above please?
On paper there are many restrictive covenants on my property, in reality this doesn't effect me or my neighbours but clearly it's very off putting for potential buyers now I'm trying to sell. The restrictions are nothing out of the ordinary but appear to be numerous and quite petty. Examples, without outing myself, are no outbuildings in gardens to be erected except a shed or greenhouse, no work vehicles over a certain weight, any extensions would need the land owner'd permission. In realty we all just live normally and don't put huge caravans in our gardens.
Would buying an indemnity insurance be of any help to me?

Don't think indemnity insurance would help
People think it's a magic wand but I never accept it
If nervous buyers don't want to proceed because of restrictions on the title indemnity insurance won't help
Your solicitor should exhibit the title to the buyer's solicitor at the earliest opportunity

I'd actually use them as a positive if you can be there for viewings. When you and the viewers enthuse about how nice the area is, you can say along the lines of 'there is of course a reason for that: all these properties were built by Bob the Builder who owned the land and built these houses, and he still owns a couple of them, so he has put a few restrictive covenants on such as no keeping of chickens, no playing of loud music - so we have lovely quiet neighbours, and no caravans, no signwritten vans out the front keeps it looking so pretty when you arrive on the estate.
Then it won't come as such a shock to the buyers and they can see the benefit rather than the restrictiveness.

We had loads on a former property. Insurance is cheap and easy to get as part of the conveyancing process

mumdone do you mean you bought indemnity insurance while selling your property?

Your solicitor should exhibit the title to the buyer's solicitor at the earliest opportunity
I'll make sure this happens. However, do you think it's something I should bring up when showing people around? ( I do the viewings)

Ariela
Great advise in making them into a positive

I wouldn't bring it up at viewings

To back up the 'what a lovely area we live in theme' I'd look up your street/area on the local police statistics. Quite probably if there are no caravans/vans out front (shielding front doors from view) and less back garden buildings, it's likely you could be in a lower crime area than (another local area) which has similar properties - to use to further your 'nice quiet area cause. People don't want trouble with the neighbours nor do they want crime on the doorstep.

Indemnity insurance won’t help. Ideally you need to get the worst ones removed.

We’ve walked away from one property as the covenants where too restrictive and the landowner had taken legal action against one of the other houses.

It’s still up for sale and they’ve had to reduce a number of times.

I'm literally losing the will to live! It's not for you to mention the covenants. It's up to the buyers solicitor to report to their clients when they do their title check. Unless you are the queen and you're trying to sell buck house i honestly can't see why you're getting so worked up about it.

And in all my years of working in property law the only covenant I have asked to be removed was one that stated "no blacks or Jews"

Japanese absolutely no reason to be rude. I'm not worked up and asked a civil question receiving civil and helpful answers until yours

There is a restrictive covenant on my freehold property and those of neighbours - that all front gardens should remain open plan. Aesthetics again. The developer went out of business thirty years ago and no one seems to have taken any notice of the restriction. Garden walls and hedges abound. The previous owner of my house actively breached it by planting a laurel hedge at the front for privacy and so, on my solicitor's advice, I bought an indemnity insurance policy. Cheap as chips and probably about as useful legally but it's there in case I ever wish to sell.

The sort of RCs you mention, OP, would not put me off at all. In fact, I take the view that it's an indication that where you live was planned carefully and intended to ensure the overall look of it was maintained. Quite reassuring in a way,.

These sort of restrictive covenants wouldn't put me off either, as SingingLily says, I'd probably find them quite reassuring.

Going back to your original question though, I wouldn't bother with indemnity insurance initially. I would wait for an offer - or a question about RCs and then share the details.

I've only been asked about RCs once when sellling and that was a woman who had a large motorhome and had come up against RCs preventing her parking them on her drive previously so obviously wanted to know this before making an offer.

Thanks so much all. I'm feeling more relieved and have a better understanding around indemnity insurance ( it's certainly nothing that would help me)
Just need to find a buyer now!

I agree that to many purchasers the covenants would be a selling point since the neighbours have to abide by them too.

That said I wouldn't proactively mention them.

I definitely think making them in to a positive is a good thing, especially the noise one. We had the same on ours which we would have broken because we have motorbikes.
Hope you find a buyer soon OP!

It's up to the buyers solicitor to report to their clients when they do their title check

All very well and good, providing the property is registered.

All very well and good, providing the property is registered.

True, but land registration has been compulsory in England and Wales since 1990. OP said that her house was renovated by the developer 14 years ago so she will have purchased it as a registered property.

I know, sorry I meant just about RCs in general. It's how ours were not flagged sooner (but the vendors knew of them as they passed the document over as an after thought)

Just get the estate agent to bring them up with people viewing the property. We did this in relation to pp that had been granted to demolish next door and build something new there - we didn't want to get a good way though the sake process for them to find out and pull out. We made it into a positive (ugly old tumbledown house going) as you can (pretty area).

Just get the estate agent to bring them up with people viewing the property
Unfortunately I'm selling with an online agent, I believe there is little interaction between them and viewers from what I've experienced so far