Owning your own home

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frankohara

Developer has offered a year of snagging guarantee in a house we are thinking of buying and lawyer is happy to ask for this to be included in the contract. This is a first time dealing with a snagging clause, is there anything we need to make sure is definitely included or mentioned so we are covered properly?

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Sam_w in reply to @frankohara

One thing I would be asking is, what happens if developer goes out of business? Who is in giving the guarantee then? That has certainly been an approach used by the more nefarious end of the market in the past.

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frankohara in reply to @Sam_w

That's a really good question, is there such thing as a indemnity that would cover that? I guess it is all about finding a balance between feeling reassured that the renewal of the house has been properly done and not being too picky to the point of them telling us to do one

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