Who Is Liable For Property Damage Between Exchange And Completion?

Property damage is anyone’s worst nightmare, especially so close to Christmas. For those that are in the process of purchasing a property and have already exchanged contracts it is an extra concern as they do not legally own the property yet, but cannot pull out of the sale either.

Once contracts are exchanged for the sale of a property it then becomes a shady area as to who is responsible for any repairs. Most solicitors would advise that anyone purchasing a property should take out buildings insurance to cover from the date of exchange, even if the sellers do still have their own policy. This is because once contracts have exchanged you are legally obligated to complete on the sale, regardless of any damage that occurs to the building between exchange and completion. This means if you haven’t taken out insurance and the roof is destroyed by a storm between exchange and completion, you will have to buy the property and face the costs of repairing it yourself.


If you haven’t taken out insurance you can hope that the sellers have still got insurance, but it will be unlikely that they will want to face the hike in their insurance premiums that would result from them claiming for damage to a property that they no longer own. The safest bet is to always take out insurance to cover you from exchange of contracts, even though you do not technically own the property yet.

When you do complete on the sale here are some tips for helping your property weather the storm:

  • Establish an evacuation plan
  • Ensure gutters and drains are clear, which will allow water can drain effectively
  • Place valuable/irreplaceable items upstairs to limit flood damage
  • Secure fences and bring garden furniture and washing lines etc. inside
  • Keep insurer’s contact details to hand as it is important to report any damage as soon as possible.

National Homebuyers – We Buy Any House

Homebuyer man holding a chequeNational Homebuyers are a UK based property buyer who really do buy any house or property! In fact we will buy anything, absolutely anything! Whether it is a house, flat or bungalow we will buy it!

If you are looking for a fast house sale then we are here to help you. Our team of property experts are always on hand to share their expertise with you and help you achieve your aim of selling your house fast in a time scale that suits you and not us. So if you want a we guarantee to buy any home service then give us a call on 08000 443 911.

Get your no obligation cash offer now by using the Get Offer form at the top of this page and take the hassle out of selling your home!


All home buyers are different – so what are they looking for?

If you need to sell your house fast, you need to think about what kind of buyer is most likely to buy it – and what you can do to increase its appeal.  
In recent years, buying and selling houses has become more difficult for lots of reasons, including increasing house prices and stricter conditions imposed by mortgage lenders following the recession. Property buyers can therefore be very fussy about parting with their cash, expecting great valueselling housesfor money and homes which tick all the boxes. But those boxes can vary depending on each buyer. So here’s our round-up of a few different types of buyer who might consider your home.

First-time buyers
First-time buyers are usually seeking the next step after renting a house where the landlord takes care of everything; or living with family – so they often want something simple and easy to maintain, with no major complications to deal with. To appeal to this kind of buyer, your house should be simply and neutrally decorated, in good condition and probably on the smaller side. It’s tough to get a mortgage as a first-time buyer, so their budgets tend to be tight… but after living in a property that’s probably worth more (which they didn’t own), they often expect a decent standard of presentation.


DIY fans
Some people are keen to get a great property deal on a run-down or dated home in a great location, as once spruced up it can be worth a lot more money. Their plans may include anything from aesthetic improvements to decor, right through to structural changes and replacing huge areas of the property – like a new roof or extension, perhaps. For this reason, their offers to purchase will be low, as they need to save as much cash as possible to spend on renovation.

Renting houses can be stressful, but many landlords make a good living out of it. They’re seeking houses they can buy quickly, renovate or decorate with minimal fuss and cost, then rent to make a profit on the mortgage. Buy-to-let mortgages are usually a minimum of 75% – or the buyer opts for a cash purchase – so again, landlords and investors tend to want a low price, otherwise there’s not much potential for profit.

Other types of buyer include young families who need more room but have little time to decorate or do maintenance; retired couples who want to downsize; and single people who are seeking a fresh start after a divorce.

If you’re concerned that your house isn’t appealing to any of these types of buyer, why not avoid the stress and get a quick sale for cash? National Homebuyers will buy any house – so call 08000 443 911 or request a call back to find out how much you could get for your property.