A guide from Wienroth Immobilien GmbH & Co KG from Jena
Many questions arise when selling a house - one of them is whether buildings insurance is necessary. As experienced estate agents from Wienroth Immobilien GmbH & Co KG in Jena, led by our managing director Thomas Wienroth, we would like to explain to you in this article what role buildings insurance plays when selling a house and why it is important.
What is buildings insurance?
Buildings insurance, also known as homeowners insurance, protects property owners against financial damage caused by fire, mains water, storms, hail and other hazards. It covers the cost of repairs or reconstruction of the building if it is damaged or destroyed.
Is buildings insurance necessary when selling a house?
1. legal requirements and compulsory insurance
- There is no legal obligation for a house to be insured when it is sold. However, in many cases it makes sense to maintain existing building insurance until the transfer of ownership.
- Banks and credit institutions often require buildings insurance as a security measure when the buyer takes out a mortgage.
2 Obligations of the seller
- As the seller, you are obliged to keep the house in good condition until it is handed over to the new owner. Buildings insurance can help to cover unexpected damage that may occur during the sale phase.
- An existing buildings insurance policy can be transferred to the buyer, providing additional protection for the buyer and making the selling process easier.
3. advantages for the buyer
- A buyer will appreciate it if the house is already insured as this provides additional protection and peace of mind. The buyer can take over the existing insurance or take out a new one.
Our recommendations as professional estate agents
1. checking and updating your building insurance
- Before you put your house up for sale, we at Wienroth Immobilien GmbH & Co. KG recommend that you check your existing buildings insurance and ensure that it is up to date and provides adequate cover.
- Inform your insurance company about the planned sale and clarify how the insurance will be handled in the sales process.
2. advice and support
- Our experienced team, led by Thomas Wienroth, is on hand to provide you with comprehensive information about the importance of buildings insurance when selling your home. We work closely with insurance experts to ensure that all your questions are answered.
- We will also advise you on how to optimally integrate the existing insurance into the sales process and organise possible transfers to the buyer.
Conclusion: The importance of buildings insurance when selling a house
Although buildings insurance is not a legal requirement when selling a house, it offers many advantages for both sellers and buyers. It protects against unforeseen damage and can make the selling process smoother. As the seller, you are well advised to keep your insurance in place until the house is handed over and give the buyer the option of taking it over.
Contact us for a non-binding consultation
If you have any questions about property insurance when selling your home or require further assistance, please do not hesitate to contact us. Wienroth Immobilien GmbH & Co KG from Jena, under the leadership of our experienced managing director Thomas Wienroth, is at your side with comprehensive knowledge and personalised service. We will guide you through the entire sales process and ensure that your property is sold successfully and securely.