[Ian Vicary FISVA]

David,

I reckon you have just about already arrived at the right conclusion ie. You cannot provide the level of reassurance the client needs.

You have no doubt in writing already directed your client to check the detailed terms of such an insurance policy before purchase e.g. the reliability and transferability of any such defect insurance onto your client’s legal team to check and advise upon.

The resale value is outside of a survey report but my personal opinion is that you are right to caution your client in your survey report of the consequences i.e. that it may be detrimentally affected if the insurance policy is questionable.

KR

Ian V.

 

 

 

[Ian Vicary FISVA]

David,

I sincerely thank you for sharing this astounding story. It proves this forum is a valuable source of information regarding the pracaticalties of running a surveying prcactice.

In additon, thank you for all the replies from members comprising messages of support.

I for one will certainly stop accepting credit card payments for professional servcies.

KR

Ian Vicary

Hon Sec ISVA

• This reply was modified 1 year, 1 month ago by Ian Vicary FISVA.

[Ian Vicary FISVA]

Leslie & David,

Thanks for looking into this matter. I look forward to any further updates.

KR

Ian V

[Ian Vicary FISVA]

Stephen – thanks for alerting us to this shocking practice. I do hope to hear that those accountable are reprimanded.

[Author]

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