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    • Amarna
    • By Amarna 9th Oct 17, 10:03 AM
    • 2Posts
    • 0Thanks
    Amarna
    Shared ownership resale issues, anyone got advice / experience?
    • #1
    • 9th Oct 17, 10:03 AM
    Shared ownership resale issues, anyone got advice / experience? 9th Oct 17 at 10:03 AM
    Hello, I'm looking for advice as I can't seem to find any information online.

    I am in the early stages of buying 50% of a shared ownership resale property. It is a victorian terrace house. As its a resale it has a net value and an improvement value for the improvements the current owner has made to the property. The improvements have been valued at 12k by the sellers surveyor.
    I'm a first time buyer but knowing the possible issues a victorian house can have, i got a building survey done. The survey has thrown up a number of issues that urgently need fixing, which even if I took the survey with a pinch of salt (as some have said) it's going to be a five figure sum to repair.
    The housing association have made it clear the owner is responsible for all repairs inside and outside the property.
    My question is can I negotiate the improvement value down with the vendor? As they clearly havent maintained the property. I'm talking structural, damp and roof issues. Should I ask the vendor to get them fixed? What are my options here?

    Thanks in advance for your help.
Page 1
    • NineDeuce
    • By NineDeuce 9th Oct 17, 10:13 AM
    • 519 Posts
    • 465 Thanks
    NineDeuce
    • #2
    • 9th Oct 17, 10:13 AM
    • #2
    • 9th Oct 17, 10:13 AM
    Of course you can negotiate with the vendor. The problem you may have is that you will not have much room for negotiation, unless you know that the vendor is desperate to sell.

    But beware housing associations. They are often unhelpful. They are saying that they are not responsible for maintaining the outside of the property. Are you being asked to pay ground rent/service charge? If so, you should ask what you are paying for...
    • Amarna
    • By Amarna 9th Oct 17, 10:23 AM
    • 2 Posts
    • 0 Thanks
    Amarna
    • #3
    • 9th Oct 17, 10:23 AM
    • #3
    • 9th Oct 17, 10:23 AM
    Thanks for your reply NineDeuce.

    I'm being asked to pay rent, buildings insurance and an admin fee (about £9) monthly. No ground rent or service charge, unless that admin fee is just another name for it?

    Should I negotiate directly with the seller or go through my solicitor?
    • NineDeuce
    • By NineDeuce 9th Oct 17, 10:35 AM
    • 519 Posts
    • 465 Thanks
    NineDeuce
    • #4
    • 9th Oct 17, 10:35 AM
    • #4
    • 9th Oct 17, 10:35 AM
    Do it yourself. The solicitor will probably charge?
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