New flat & asbestos!

tim_n

I've recently been looking at a flat in my area that is valued at £135k. It's on the verge of a nice area, with schools and a local station nearby. It's above a few shops (specifically a hairdressers) and is, quite nice. My heart isn't totally set on it, but I have to say given the choice, I want it.

The buyer isn't in a chain and neither am I, so it could be quite straightforward (hoho). There are however, some problems:

1.) the ceilings may need replastering. The vender told me he'd done a few and there had been problems with them which were likely to be in the same rooms.
2.) the bathroom is attrocious. Looks like some evidence of damp though everything was quite dry when we visited. The suite is old and not particularly nice. I prefer my shower to be honest so I may take out the bath completely or similar. The decoration is terrible and tiles are off the walls. It's the only room that lets down the property.
3.) The stairs to the property may need work/replacement.
4.) the garage roof is covered in asbestos concrete - I have no idea on the costs involved with this
5.) the finish of the property is not too good. There's plenty of minor DIY jobs I can do which should add value.

All in all, I've made an offer just under 10k under the asking price. I'm a first time buyer, has anyone got any advice?

Bargain_Rzl

I think the general policy on asbestos is if it ain't broke don't fix it (asbestos is harmless unless disturbed) so you might not have to do anything. However I suspect that it may affect the mortgageability of the property...

Edit: when I say "the general policy" I don't know this specifically in relation to residential property. I work in the rail/construction industry and that's certainly how they treat asbestos in tunnels and so on.

tim_n

how odd... so do I (work in the rail/construction industry...) Network rail or a contractor? ;- )

Anyway... just spoken to the LA and found that they do a free doorstep collection service. I just leave it out unbroken for them and they pick it up. Easy as pie - so it's less of a worry, I just need to find out how much a garage would cost to replace!

Any other tips and hints out there? I've been counter-offered by the vendor - £132 but it's out of my range - I'd have nothing for fixtures and fittings if I went down that road and I'm not mortgaging 105% of the property or anything.

barnaby-bear

tim_n wrote:

4.) the garage roof is covered in asbestos concrete - I have no idea on the costs involved with this
5.) the finish of the property is not too good. There's plenty of minor DIY jobs I can do which should add value.

All in all, I've made an offer just under 10k under the asking price. I'm a first time buyer, has anyone got any advice?

If it's asbestos sheeting - as long as not broken up pretty harmless, I'd guess under £500 to remove and legally dispose of - of course it'll need replacing - get a quote

lemontart

try using the faults with property especially asbestos as leverage as it will cost fortune to deal with safetly.

Beth
xxx

Bargain_Rzl

tim_n wrote:

how odd... so do I (work in the rail/construction industry...) Network rail or a contractor?

I work for one of London Underground's PFI contractors... so lots of tunnels with asbestos in them (though I never have to go into them as I'm office based )

silvercar

if the roof isn't leaking why replace it?

some of the points you mention would be the freeholders responsibility, as a flat leaseholder you would pay for it through your service charge. So you need to check there is a sink fund to pay for the works, but you won't need to arrange them.

Think ahead to resale. A bath with a shower above it is more attractive to more people than a shower alone.

tim_n

sink fund? That's quite possibly the most useful piece of information so far...

Yes, the roof is leaking - a large hole at the apex of the roof - so not too much of a problem but it is old and does need replacing at some point (not something I'm going to rush with)

Fortunately (Being an office bod too Bargain Rzl) I'm surrounded by contractors who've told me my secreative idea of turning the garage into a rooftop garden are pipe dreams (foundations, change of use etc).

I really need to know some information about leasehold to be honest.