Builders Gone into liquidation

[Deleted User]

Well its not a good idea proceeding & being lumbered with a hefty management charge or planned works, that's even if my mortgage company will allow me to proceed.

[Deleted User]

Any other opinions?

chappers

GDB2222 wrote: »

Yes, but if you get a big reduction ....

Yes fair enough, but how much is enough. Without knowing the service charge or any potential works, it's a bit of a punt.

chappers

funk_punk wrote: »

that's even if my mortgage company will allow me to proceed.

That's probably your biggest hurdle.

GDB2222

chappers wrote: »

Yes fair enough, but how much is enough. Without knowing the service charge or any potential works, it's a bit of a punt.

I said before: "You may just have to take a view on this."

If it's just estate maintenance charges, that would cover insurance and gardening mostly. That sort of thing. How can anyone tell without knowing the size of the estate and the number of houses the cost is divided between? Unlikely to be above £1000 a year, and £200-ish is more likely. Maybe billing for that's been overlooked for a couple of years, so maybe there's a couple of years' bills to pay. Maybe nobody will ever get round to charging for this?

If there's a porter on site, plus other facilities, that's going to cost more.

As to major works in the pipeline, well what needs doing? I would think of the largest amounts that these works could reasonably cost, then double it and start negotiating from there. After all, you can buy a place with no major works timetabled, then a month or two later they get timetabled and you are liable for the cost. There's always a risk where any part of the maintenance costs are outside your control.

Would the OP be liable for proposed or past work, say laying sewers under the road or bringing the roads up to a standard for adoption by the local authority, that sort of very expensive thing? Ask the solicitor dealing with the case to help sort out what the worst-case and best-case scenarios are likely to be.


Or, if the risk is too big, just walk away.

[Deleted User]

The estate is a small development of around 20 houses. From what I can see there are few communal garden areas but quite small. There is a water pumping station (not quote sure why this is there). Also the road into the estate has not had the final layer of tarmac put down. The sewers are already laid. So the only major cost would be the road which is not that long.

GDB2222

Does the value take into account that there is this work still to be done and paid for? How much do you think the cost of teh tarmac jobby could be per home?

[Deleted User]

No its doesn't take that into account. I've no idea how much the tarmac would cost.

GDB2222

How do you propose to find out?

[Deleted User]

GDB2222 wrote: »

How do you propose to find out?

Well ive had a look online & varies between £30 - £80 psm.

Spoke to my solicitor well her assistant & she was in a "meeting". Told her my concerns she said if I wish to revise my offer then I will have to contact the EA myself, apparently "they dont do that". Is this the case?

The way im feeling right now im thinking of walking away & going into rented accom until something else I like comes up. Pref not a repo.