Hello everone about a year ago I purchased a block of land in wa and have since had a house moved onto it. For me to get the plans approved I had to apply as an owner builder. In order for me to sell the house within a 7 year period im told I have to take out indemnity insurance on the house for the remainder of the 7 year period. I have no idea on what the process is on obtaining this and if its a major drama in obtaining it ? Any help from people who have had experience in this would be much appreciated. Thanks.
This sounds like insurance needed to cover the quality of the building workmanship. I haven’t had to take out this sort of insurance but I would try an insurance broker like ION. If they do not have it they would know where you can get it. HIA insurance service might be able to advise you also . see http://www.hiainsurance.com.au/productgroups/products/publicproductsliability_ownerbuilders.html
Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
