Hi everyone, I am looking at a property on TC3 land with no insurance therefore, no EQC and insurance claims and at this point in time, I will not be able to get it insured. It is also currently tenanted and is in pretty good condition. Although, I understand the risks and uncertainty with buying an uninsured property on TC3 land - what are my responsibilities as a landlord if there are issues with the land?
I guess what I really need to know is that the house can remain on the land and can be safely tenanted going forward.
The agent is saying the house is fine and its only if you have to rebuild that new building codes are an issue. But with no assessments ever being done, don't I have a responsibility to insure the house is safe for my tenants.
Would an offer subject to building report be ok or should I also get a private geotech report done...
Thoughts?
I guess what I really need to know is that the house can remain on the land and can be safely tenanted going forward.
The agent is saying the house is fine and its only if you have to rebuild that new building codes are an issue. But with no assessments ever being done, don't I have a responsibility to insure the house is safe for my tenants.
Would an offer subject to building report be ok or should I also get a private geotech report done...
Thoughts?
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