Indemnity insurance

[Mayra1367]

Anyone ever sold a property and arranged indemnity insurance before the sale ?

Yes just have. It was ridiculous though - a flat in a large listed building converted in the 70s. There are communal gardens and communal rubbish bins and bike store. There is a head lease, and my buyer's solicitor said there was nothing specific allowing use of the communal bits, or it was ambiguous at best. The fact that the communal parts had been used by all for the last 60+ years wasn't good enough, or the fact that the upkeep is paid in the service charges. They insisted in an indemnity policy that I had to pay £250 for. I'm not sure what I was indemnifying them against, but it ticked the right box I guess.
I've also bought one in the past as I knocked through a supporting wall and put up an rsj in another property but did not get building regs involved, so got an indemnity policy for that. The fact that the council couldn't care less after a year didn't seem to matter. Ticked another box.

Yes, what is the issue you are hoping to indemnify ?

My conveyancer had it included

No but had it arranged by vendors. They put new windows in without planning permission. They paid for an indemnity policy so that if the council ever noticed and instead PP was applied for retrospectively, or declined, that we wouldn't have to fork out to rectify the situation.

There’s one for where we are now; to cover side access that’s actually on next doors land. If it ever becomes inaccessible to us we get the value of the house when we bought it.

We are in the process of buying a flat . Vendors want us to take out indemnity insurance against an absentee landlord , company went into liquidation many years ago .

@Mayra1367 they should take out the insurance not you! They pay for it and then you have it in place so it covers you re. Absentee landlord !

Yep, we paid £200 for a dilapidated conservatory that leaks because our vendors refused to. The house builders don't exist anymore so I doubt very much it was needed but our vendors were so petty.