My house is need of repair but I want to buy now!!

Uncle_Cuddles

Hi. To repeat the title, my house is in need of repair but I would like to buy a house now. I have seen a couple of houses I like and we are desparate to move into a bigger house.

The problem with my house is damaged drains have caused some cracking (internal and external) to appear on the front of my house. I made a claim back in August 2003 and the insurers have been monitoring it ever since. There has been very little movement over the course of the first year and they have not been to look for about four months. The reason for the delay in repairing is that the neighbours property is also cracked (I live in a semi-detached), but it is council owned and the council is refusing to contribute to the repairs. The quote is only £1200 + vat and only about a quarter of the drains are on next doors' property (they all run into mine). The funny thing is next doors cracking started first and is worse than mine. The loss adjuster has told me they will tell the insurers to pay for the repairs in full, but whether they will or not, who knows? Plus they may pay for the drains to be repaired but they will not pay for my neighbours house to be pointed, which will not look too good next to mine!!

Okay so that is where I am at. I obviously can't put my house on the market whilst it is in need of external and internal repair (by the way, the loss adjuster assures me it will not need undepinning) but I don't want to miss the properties I am interested in, so what can I do? I can't see the repairs being completed in the next three or four months.

I was thinking of renting my house but I am not sure about it. I have had a couple of friends tell me they would rent it but I'd rather not rent to a friend. Also, my sister has even volunteered to temporarily "house-sit" until the repairs are done, paying me a rent - below market rate of course but still enough to cover the mortgage etc. I am not sure how this would go down with the building society.

I need the equity on the house to buy the bigger house.

Any suggestions?

keepthereceipt

You are correct in your assumption that you will be unable to sell with the house in this condition, certainly at a price you'd be willing to accept. If someone were willing to buy then they would want a substantial discount because of the damage. However it does all depend on the local market.

Get the house looking as good as possible, both inside and out, in every other respect and invite some local agents round for a valuation.

Explain to them the situation with regards the drains and that you have documentation from the insurance company that proves it is being dealt with. The agent may think there is such demand for such a house in such a location that it is worth marketing as is. Someone may be prepared to take it on with the drains as they are !!

Either way you should increase the pressure on the insurance company. Tell them that the cracked drains are an environmental hazard. Tell the Council and threaten to contact the local press. Write to the Ombudsman if necessary.

As an alternative, if you think the insurance will sort it out and it is just a matter of time, and also if you are desperate to move, you could rent out the house and then rent somewhere else for yourself. This is obviously more expensive but it allows you to move.

Hope this helps.

John_M_Business

It seems to me you only have three alternatives, two of which would be acceptable, none of which meet your requirements:

1. 'Distress sell' now, at a big discount
2. Do the work, swallow the pill, but it will enable you to move, and hope that you'll get some money back off someone in future
3. Wait until the situation clarifies itself, but don't try to by before that time

Listen to 'You can't always get what you want" by the Rolling Stones for more insight ;D

Uncle_Cuddles

Oh well! Better put some pressure on insurers and council!

Cheers!