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buying a house -incomplete work
sunshineband
Posts: 42 Forumite
Hi all,
we are buying a house and are close to exchange. Does anyone have any experience in works carried out without building regs to support this? Does this effect the value of your property when you resell? if anyone has any experience in this and can shed some light I would really appreciate it!
thanks!
we are buying a house and are close to exchange. Does anyone have any experience in works carried out without building regs to support this? Does this effect the value of your property when you resell? if anyone has any experience in this and can shed some light I would really appreciate it!
thanks!
0
Comments
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We had this with our first house. The chimney had been removed with no support in the roof for it. The BS had a retention on the mortgage until the work was done. It wasn't a massive job and once sorted all was fine.
When we sold 5 years later there was no issue with survey.Remember the saying: if it looks too good to be true it almost certainly is.0 -
The one question you have no asked is "Is the chimney safe?"
this seems a much more imporrant question to me!0 -
Building Regulation Indemnity Insurance isn't expensive - it is a one-off cost - I can get it for up to a £200K property for £40 - and is taken out mainly to pacify mortgage lenders who don't understand the realities here. It only protects against the generally unlikely possibility of enforcement by the Council, the risk of which gets smaller as the yaers go on. It gives no guarantee whatever about the quality/condition of the work itself.
Unlikely to make any difference to value if surveyor hasn't found any obvious symptoms of a problem form a structural point of view. When you sell, if for more than you bought for you might have to upgrade the cover to the then price.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
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