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Home buyer / seller insurance. Is it a good or bad idea?

2 replies

Wishitwasstraightforward · 11/12/2024 23:02

I'm newly divorced and in the process of selling our home. I won't derail thread with divorce details other than to say I will keep proceeds of sale and use them to buy a new home (after selling expenses have been paid).

I feel financially vulnerable and am worried about the inevitable and largely unavoidable risk of either my house sale, or purchase falling through. I've read that insurance is available.

Post divorce I also have to pay the mortgage and bills on the house until it is sold which is also eating into my finances every month hence needing to sell as fast as possible.

Can anyone share their thoughts or experience of using this type of insurance please.

OP posts:
SnoopySantaPaws · 12/12/2024 03:08

It's an expense, but other than that I can't see how it could be a bad idea?!. I imagine the policies vary quite a bit, so choose your policy carefully.

Hivishero26 · 13/12/2024 07:55

Years ago I had insurance when moving. One of the solicitors refused to send the money for their client’s purchase until they’d received the money from further down the chain (apparently normal practice was to overlap and act once the sending had been confirmed) . It was very tight as to if we’d get the keys in time (we got them at 4.55pm on a Friday). It was a great relief knowing that a hotel for the weekend , plus storage cost for our belongings was taken care of , if the completion had extended over the weekend . It seemed a small price to pay for peace of mind.

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