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Leaky home purchase

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  • Leaky home purchase

    We are looking at purchasing our second property. Dream site, lovely home. Leaky however. Old owner has an open and accepted claim to fix of $210,000+ but we will not be able to make this claim as new owners (we have a copy of all documentation)


    Can we get insurance on a leaky home?

    Can you purchase a home with no CCC?

    If so what are your recommendations or experience in the above issue

    Please Note:

    NO health factors are an issue in this property (we have a copy of the full report to assure this - less than 12months old)
    NO further damage is ongoing, i.e. the house has been sealed (also in the report)

    It is a livable home and if and when we decide to repair or rebuild the cost + sale price is still way below potential value.


  • #2
    I believe you can get insurance, because insurance doesn't pay out on gradual deterioration anyway. They may make it much more plain than normal.

    You can also purchase a home with no CCC, but if you need mortgage finance to do so you will often find that the bank concerned won't lend without one. Occasionally a bank lends without a final CCC, but I often wonder if that is because they just didn't know one hasn't been issued. When buying a leaky home your bank would need full disclosure of the details.

    If however you have the cash already and don't need a bank then you can buy what you like.