Buyer Indemnity Insurance

[wonderings2]

Can anyone give any advise on why a buyer would need Indemnity Insurance please?

We sold our house to an investor who is going to rent it out, we have been chasing the solicitors as things seem to be dragging out and they have come back with the following:

On your sale a copy of an agreement has be revealed in the buyers local search we are trying to establish with your buyers solicitors if this could be dealt with by way of indemnity insurance in case a cop is not available, we will evert on this point as soon as possible.

I have been looking into reasons why this would be needed but none of seems to fit our house. Its a 2 bed semi, built in the 80's, no structural changes, boiler is 3 years old, no where near any flood area's, property boundaries very clear and uncomplicated...

The buyers surveyor said at the time of the survey (without being prompted) that he saw no issues and would go off and do the desktop search, so Im assuming its something that has come up when he was researching the area?

DH is going to speak to the solicitors today but Im not sure how much information they have to give us, surely with it being our house they can tell us exactly what the issue is?

A planning issue perhaps? Or right of access or covenant.

What sort of planning issue - could it be if they were planning to extend or make amendments?

I cant see anything on the deeds that would cause a right of access issue, it seems really strange....

Neighbours perhaps , right of access, flooding or mining, or not producing certificate for work they have done such as new windows or electrics. Local searches are external to property though. The solicitor should show you a copy.

Thank you, I'll get DH to press for details when he speaks to the them today

Chancel liability?

Thanks but I don't think so, we're in a housing estate that was built in the 80's. It was all farm land before and 2 miles and any direction from a church.

Blimley though I hadn't thought of that ....

Have they built anything in the garden or enclosed the front garden or driveway? Estates often have restrictions or covenants to maintain a certain look which may have been infringed over time.

Its the house that we are selling, the buyers solicitor is trying to confirm if indemnity insurance will cover the "agreement found in the local search"?

We did build a shed/garden room at the bottom of the garden which is 3m x 1.5 m? Its well within all the property boundaries though - could it be that?

Nobody on here knows what it is. If your DH is going to speak to the solicitor today, why not just wait for the outcome of that conversation?

Because Im impatient

Could be. Check your property deeds as there may have been restrictions on outbuildings requiring the developers' permission and/or planning permission and buildings regulations,