Home seller insurance

The Disposal Act is the law governing the purchase and sale of used property, such as houses, apartments, cabins and land.

As a seller, you are liable for defects and deficiencies in property in accordance with this law. This means that you cannot disclaim liability for hidden deficiencies and defects. That's why it's important to document a property's condition before you sell. Sufficient information about a property is obtained by receiving a condition report from an appraiser, the estate agent's description of the property and the seller's self-certification form.

A property has a defect if it deviates from what the buyer expects. If a defect is documented and described, the buyer cannot complain about this defect.

You cannot sell a property "as is". According to the Disposal Act, a seller cannot generally disclaim liability for hidden defects and deficiencies. The condition of the property is documented in a condition report, with the estate agent's description and the seller's self-certification form.

Anyone selling a property must complete a self-certification form that tells the home buyer as much as possible about the condition of the property. The self-certification form, together with the condition report and agent's description, provides the buyer with sufficient documentation in a property sale.

In the self-certification form, you must provide information about what kind of work has been done to the property and who carried it out, deficiencies and defects, and other important information.

A condition report is not required by law, but it is recommended. As a seller, you cannot simply disclaim liability for hidden deficiencies and defects. With a thorough condition report, the chances are much greater that the property is as described; both seller and buyer get increased security and reduce the likelihood of conflict.

The price of homeowner's insurance is calculated based on a per mille rate of the property's sales price. The rate used in the calculation depends on the type of property you are selling.

As a property seller, you are liable for defects and deficiencies exceeding NOK 10,000 for five years after takeover. This includes, for example, deficiencies and defects that you were aware of, or should have been aware of, but did not disclose, or incorrect information provided. You are also responsible for providing the most accurate and comprehensive information possible about the property.

You are usually not liable for defects and deficiencies that have already been disclosed.

If the home buyer complains or claims compensation, the insurance will take care of the situation for you. Professional case managers and lawyers will handle all claims made by the buyer. If you receive a direct enquiry to yourself, you must inform us so that we have the opportunity to process the case.

Without home seller insurance, you will have to handle the claim from the home buyer on your own. In that case, you can hire a lawyer. In addition, you often need to involve an appraiser to assess the case that the buyer is complaining about.