advice needed on possible repairs to a repossession

quinnyquinn

I'm buying a repossession with my bf, it's our first purchase and turning into a bit of a nightmare.

it's a 2 bed edwardian conversion, which has been on the market since december. the asking price was 179k and we offered 175k which was accepted back in mid april.

when i recieved the hip for the property it turns out that it was done for the wrong flat ( the ground floor one, we're buying the one above). I immediately brought this to the attention of the estate agent, who told me that the address was wrong and that everything else in it was right apart from the lease info.

A week later my solicitor contacts both the estate agent and the vendor to say that the hip needs to be redone as everything in it is wrong. we were told this would be done straight way, but fast forward to now and we're still waiting!! :mad:

everything has been done on our end, but this hip is holding everything up! every week we hear a different story from the estate agent saying that it's been done but they're waiting on the title deeds, or the hip company are holding things up.

The survey came back saying that there was damp in the bedrooms and kitchen probably due to the roof coverings. We were told that this is urgent and that this needs to be repaired as soon as possible after purchase. With the hip holding everything up, we're worried that more damp may be penetrating and causing more damage.

My question is do we have any right to ask the bank to repair this seeing as they are holding this up or get a quote ourselves and take if off our offer? i know with repossessions you buy as seen, but this came up in the survey and needs to be addressed urgently. The survey was done in early may and we had a wood specialist inspect the property last week who said the damp hadn't affected the timber yet but that the walls were wet and needed to be looked at asap.

any advice you can give me would be greatly appreciated!

thanks!

poppysarah

The bank won't repair a thing.
Reduce your offer by the amount plus 15% a builder quotes you.

Or walk away.

karenthemummy79

I have recently exchanged on a repo - it was discovered that the property (only built in 2004) didnt have an nhbc or architect certificate which is essential for a mortgage. I got building control out to the house from the council and they confirmed that the only outstanding issue to be resolved to get the final certificate was disabled access from the drive to the front door (there are slabs to the door but the drive has never been surfaced so is stone which means a wheelchair cannot go over the drive).

The asset management company agreed to get 3 qtes and knock the average off the price of the house!!!

In the end, the quote they had was for the whole drive which is 100ft long! We ended up getting almost 3k knocked off the price!

I dont know if your issue makes the house unmortgagable but if it does then it is down to them to sort it out!

Good luck (and by the way it also took weeks for them to get the qtes so I know how you feel being ready but waiting on them getting the hip done!!)