You cannot commit to any work without QBE's written approval as agent for the NSW HWIF otherwise you will jeapordize the payment of your claim.
Browse Forums Building A New House Re: Cosmopolitan Homes - Liquidator appointed 87Nov 10, 2011 8:44 pm zozo you're a ray of sunshine in here joltinjoe. We already are thinking the worst, we don't need it to be reinforced. Called QBE today. they had no idea that the administrators have wiped their hands of those of us that are close to completion. They were still waiting for instructions from the administrators. Still not a single claim form has been looked at. Wonder if the state government will foot the bill for beach-side short term accommodation while they fix up our place. Not an Administration............. its a Liquidation........... Fair Trading and the Home Warranty Insurance Fund will hold a Homeowners Meeting at 3:30pm on 17 November 2011. The venue for the meeting is Rydges Hotel, 116 James Ruse Drive, Rosehill 2142. The meeting will provide homeowners with information on the effect of the liquidation on their home building projects and the protections "(and lack thereof )" provided by Home Warranty Insurance. All homeowner customers of Cosmopolitan Constructions are invited to the meeting. You can contact Fair Trading on the Cosmopolitan Homes hotline 1800 451 301 if you would like to pre-register for the meeting. Asking the HWIF to cover your rental accommodation is a good idea.....just make sure the rentals costs are reasonable......... Re: Cosmopolitan Homes - Liquidator appointed 88Nov 10, 2011 8:47 pm tintin joltinjoe Chiao Ask HWIF/QBE if the costs of the replacement insurance policy over the property will be covered and if they cant agree to it immediately then complain to the OFT that the lack of insurance means that your Mortgage may be in breach so they better do something about it pronto otherwise its going on Current Affair/Today tonight and the Minister of Fair Trading will be advised. I dont have any insurance for fire and/or theft. Should I be getting this? I always assumed the house was builders until handover.. If you want to scare your Home Loan lender ...Ring them and tell them that the builder has collapsed and that the property no longer has any Fire insurance cover over the building..........see how long it takes them to tell you that you may be in breach of your mortgage by having the property uninsured...... Better yet ask QBE/Sicorp for a quick claims advance to buy the insurance cover so that you dont breach your mortgage loan..... Re: Cosmopolitan Homes - Liquidator appointed 89Nov 10, 2011 8:54 pm Until the property is handed over, the insurance is the responsibility of the builder (and presumably the liquidator now). Demolition August 2009, Construction Started September 2009, Completed December 2010 Re: Cosmopolitan Homes - Liquidator appointed 90Nov 10, 2011 9:01 pm Called fair trading about liquidator's intension on giving away owner’s contacts and house locations and told to contact QBE. Lady at QBE escalated my email to her manager. It might be better if more of us raise this up with QBE. The thing is if your house is not locked up, no one will insure you. I have called NRMA, GIO, QBE and AAMI. Is anyone getting a quantity surveyor?? Re: Cosmopolitan Homes - Liquidator appointed 91Nov 10, 2011 9:19 pm Casa2 Until the property is handed over, the insurance is the responsibility of the builder (and presumably the liquidator now). Well the liquidator told us the building is ours and it's our responsibility to secure and insure the house I wonder how do I find out who is Cosmo’s Contract Works and Public Liability insurer?? I don’t think I will get any help from the liquidator on this. Re: Cosmopolitan Homes - Liquidator appointed 92Nov 10, 2011 10:02 pm Thanks to my good lawyer asking me to get a copy of Cosmo's Contract Works insurance prior to signing the contract! But can we put thru the claim or have to go thru the liquidator?? Anyone knows how this works?? Re: Cosmopolitan Homes - Liquidator appointed 93Nov 11, 2011 6:13 am All, Please don't panic. All your homes weather they are locked up or not are still the responsibility of the liquidator & or insurance provided they have not yet been handed over to you. When WM homes went into liquidation a month ago, some of the security fences were removed by the suppliers because of non payment. QBE quickly stepped in to ensure that ALL homes were secure, so if you have any questions, you should put them forward to QBE. Your rent & or storage costs etc will be covered by Qbe ( except your mortgage repayments ), but only from the date that Cosmo went into liquidation. As I said, don't panic, there is alot of information on the Qbe website that you will find very helpful. Re: Cosmopolitan Homes - Liquidator appointed 94Nov 11, 2011 7:35 am Chiao Casa2 Until the property is handed over, the insurance is the responsibility of the builder (and presumably the liquidator now). Well the liquidator told us the building is ours and it's our responsibility to secure and insure the house I wonder how do I find out who is Cosmo’s Contract Works and Public Liability insurer?? I don’t think I will get any help from the liquidator on this. If the building is yours it means you can move in. Demolition August 2009, Construction Started September 2009, Completed December 2010 Re: Cosmopolitan Homes - Liquidator appointed 95Nov 11, 2011 8:09 am springtime All, Your rent & or storage costs etc will be covered by Qbe ( except your mortgage repayments ), but only from the date that Cosmo went into liquidation. As I said, don't panic, there is alot of information on the Qbe website that you will find very helpful. Are you sure abou that rent will be covered from date of liquidation? I would expect they would cover rent once your allowed construction period (32 weeks) has expired. As Cosmo didnt have to (but would have in some case) legally finish the project before the 32 week construction period. Re: Cosmopolitan Homes - Liquidator appointed 96Nov 11, 2011 8:59 am Tintin, The liquidators are not the ones that will be covering the rent, it's QBE if that's who your policy is with. You are supposed to include that as part of your claim when you lodge it. You see, some WM customers contracts expired 6 months before they went into liquidation ( the homes where no where near complete ), but at the meeting with QBE, we were told that they will cover the rent from the date that the builder went into liquidation not from the end of their contract. I hope this helps. Re: Cosmopolitan Homes - Liquidator appointed 97Nov 11, 2011 7:30 pm Casa2 Chiao Casa2 Until the property is handed over, the insurance is the responsibility of the builder (and presumably the liquidator now). Well the liquidator told us the building is ours and it's our responsibility to secure and insure the house I wonder how do I find out who is Cosmo’s Contract Works and Public Liability insurer?? I don’t think I will get any help from the liquidator on this. If the building is yours it means you can move in. They can move in even without a Certificate of Occupancy????? How could the owners sell it at a later date without the CofO ???? Re: Cosmopolitan Homes - Liquidator appointed 98Nov 11, 2011 7:34 pm springtime Tintin, The liquidators are not the ones that will be covering the rent, it's QBE if that's who your policy is with. You are supposed to include that as part of your claim when you lodge it. You see, some WM customers contracts expired 6 months before they went into liquidation ( the homes where no where near complete ), but at the meeting with QBE, we were told that they will cover the rent from the date that the builder went into liquidation not from the end of their contract. I hope this helps. The policy is being administered by QBE as agent for the HWIF which is the Government entity of Sicorp (Treasury). Re: Cosmopolitan Homes - Liquidator appointed 99Nov 11, 2011 7:40 pm springtime All, Please don't panic. All your homes weather they are locked up or not are still the responsibility of the liquidator & or insurance provided they have not yet been handed over to you. When WM homes went into liquidation a month ago, some of the security fences were removed by the suppliers because of non payment. QBE quickly stepped in to ensure that ALL homes were secure, so if you have any questions, you should put them forward to QBE. Your rent & or storage costs etc will be covered by Qbe ( except your mortgage repayments ), but only from the date that Cosmo went into liquidation. As I said, don't panic, there is alot of information on the Qbe website that you will find very helpful. The Link on the QBE website just talks about the Westminster Homes Collapse. They dont have anything about Cosmpolitan on there yet. Also be aware that the Cosmopolitan matter is a Liquidation not an Administration like Westminsters. Re: Cosmopolitan Homes - Liquidator appointed 100Nov 11, 2011 8:03 pm springtime All, Please don't panic. All your homes weather they are locked up or not are still the responsibility of the liquidator & or insurance provided they have not yet been handed over to you. When WM homes went into liquidation a month ago, some of the security fences were removed by the suppliers because of non payment. QBE quickly stepped in to ensure that ALL homes were secure, so if you have any questions, you should put them forward to QBE. Your rent & or storage costs etc will be covered by Qbe ( except your mortgage repayments ), but only from the date that Cosmo went into liquidation. As I said, don't panic, there is alot of information on the Qbe website that you will find very helpful. Cosmopolitan matter is a Liquidation not an Administration like Westminsters. Westminster was already acting under a Deed of Company Arranagement before it went under. Ask for references and speak to them. 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