Selling your home in SA/ACT
Owner Builder Warranty Insurance covers the purchaser or subsequent purchaser of the property, for the balance of the period of Insurance after the final (Completion) Certificate was issued.
If the Owner Builder dies, disappears or becomes insolvent, however defects, incomplete works or second-hand materials noted in the Defects Inspection report are exempt.
Owner Builder who want to get the best price for their home can now provide Owner Builder Warranty Insurance to the purchaser for their benefit.
Our Owner Builder Warranty Insurance policy covers the purchaser for Structural Defects, which comprise defective or faulty workmanship, defective materials which can affect the Structural integrity of the building.
The purchaser now has the same comfort level that a homeowner has when receiving Builders Warranty from a Registered Builder.
Home Owners using a builder to build their home have Warranty Insurance, so should Owner Builders. To get the best price for your home, Owner Builder Warranty Insurance is now available for your purchaser’s benefit.
|Purchaser||Owner Builder Work|
|Covered for up to $100k||Period of cover is 6 years from the Certificate of Occupancy|
|Defects report required||Coverage for structural defects|
What we require:
|Cost of residential Owner Builder works||Current Defects Report, prepared by an approved Building Inspector with P.I Insurance|
|Development Approval or Building Commencement Notice||Certificate of Occupancy or Final Notice of Completion|
|Drivers Licence||Owner Builder Indemnity Application form|
Step 1: Obtain a defects inspection report from an approved inspector.
Step 2: Fully complete:
- Application form
- Development Approval or Building Commencement Notice
- Certificate of Occupancy or Final Notice of Completion
- Drivers Licence
- Defect Inspection Report from an approved inspector with P.I insurance
Step 3: Email your documents for approval.
Frequently Asked Questions
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- Owner builders require a defects inspection report prior to the sale of their home on which owner builder works have taken place.
- The report must be from a qualified expert such as a building consultant/inspector, building surveyor, architect or engineer who must have a valid professional indemnity policy in place at the time of signing the report and who authorises the report being made available to third parties.
- All defects, incomplete works, inaccessible areas and second hand materials should be described covering the dwelling/s as well as outbuilding, pergolas, landscaping, pool etc.
Therefore as an Owner Builder selling your home, the Purchaser expects Warranty Insurance.
Maximise your sale price, provide your purchaser Owner Builder Warranty Insurance.
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