Build over agreement??

[jeepjeep4]

Hi wondering if anyone is in the know - we are sold stc and buyers solicitor has flagged the (30 year old) extension built over foul drains.

They want a build over agreement from us but the extension was done in 1993 so they didn't even exist back then!

The other thing they have suggested if we can't produce one is indemnity insurance for £300.

Am I wrong in thinking we can just say - no, it's 30 years old there's never been an issue and isn't likely to be so I won't be spending three hundred pounds, thanks.

In all likelyhood you can say no.

And then they can say they're not buying it, thanks.

Depends on how much you want the sale. And how much they want to buy it.

If it were post survey and it is the only thing outstanding I would probably make them an offer to go halves - but it would depend a bit on how good the market was and whether or not I thought I could get another buyer on a timescale I was happy with at the same price level.

For £300 id get the insurance rather than lose the sale.
Could you be bothered to go through the viewings and selling procedure again.

We bought indemnity insurance on selling our old place, because our conservatory was over a drain. I didn't even question it really.

Indemnity insurance. Its only £300 if it saves an abortive sale it's worth it

Yeah I'd go with the indemnity insurance though you could try your luck and suggest they pay for it (don't know if that's a thing). We had two indemnity policies for our current house. They came to about £150 total and the sellers paid for them. We didn't really know anything about it until it was done but if we had been asked to pay, we would have.

Build over agreements did exist in 1993. I know because I worked for a water company then. I would cough up.

Building over agreements were definitely a thing in 1993.

Why would you lose the sale for the sake of £300? In the context of the house proceeds it's nothing.

Even if you got a new buyer, their solicitor would flag the same thing and ask for the same indemnity.

It's 100% normal for buyers to ask for indemnities in relation to issues like this, and it's also the norm for the sellers to pay for it.

Thanks for the advice everyone seems we will have to take out the insurance. Just trying to save any which way I can but agree it wouldn't be worth losing the buyer for