Hi,
I'm currently developing a property in the eastern suburbs of Melbourne. I've put in a Town Planning application for 2 new townhouses. I intend to engage a builder to build these once I have a permit and then sell them once they are completed.
I know the Builder I engaged will need to have Building Warranty Insurance to cover me in the event of something happening (though from what I read the requirements to make a claim are so narrow it often doesn't help).
However – after they complete construction and I sell them – are the purchasers then covered by the Builders Building Warranty Insurance and me being the developer am free from any liability???
I can't seem to find any clear and concise information regarding this. Thanks in advance.
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