Harcourts Udy Realty Have Good Advice When Buying, Selling or Renovating

A lot of people don’t realise that they need to take out a separate insurance when they are buying, selling or renovating their home. Harcourts Udy Realty have some good advice, starting with purchasing a house. They advise it’s best to contact insurance companies to arrange house insurance ahead of time as they may need extra information such as building reports, and if it’s an older home, details of re-piling, re-wiring and new plumbing.

If you can’t secure insurance before putting in an offer, then consider inserting a ‘subject to insurance’ clause into the sale and purchase agreement so you have time to confirm before it goes unconditional. You also need to take the time to understand the different types of insurance available to you. In New Zealand you can get total replacement, sum specified, and present day value policies.

When selling a house, if you are looking for a quick settlement, you need to provide as much accurate information about your home’s build and history to your real estate agent as possible to allow purchasers to organise insurance ahead of signing on the dotted line. You will also need to advise your insurance company of the sale, and provide details to them of the settlement date. You’ll need to continue covering the property with your insurance until settlement, even if you have vacated the house – if something were to happen on the day before the keys are handed over, the costs would fall to you.

When you are moving house many contents insurance policies do not cover your household items when they are in transit, so you need to check with your insurance company if your policy does and, if not, whether they can offer extra insurance for the move.

If you are considering any major structural changes to your house, then taking out ‘contract works insurance’ is recommended to cover any potential damage caused during the renovation. Renovations such as replacing the roof, re-piling or redoing the kitchen can all be covered by such a policy. However, be aware there are some exclusions within the policy, including faulty workmanship, so you need to ensure you have reputable professionals carrying out any work it covers, and for more information on property managers North Shore, residential property management Auckland and Harcourts property management please go to http://www.udyrealty.co.nz .