Reassurance - Repo Buying

Sazza100

Evening all,
I'm obviously going to query some of the below with my conveyancer but wanted to canvass opinion of the knowledgeable folk on here, for reassurance more than anything else!

After months waiting for an offer on our place and a few weeks of searching we finally set ourselves on a relatively big semi in a nice part of town close to good schools, plenty of space and easy transport links....turns out it was a repossession - given it would only be our 2nd house I thought we'd plough on and see what happens, whilst trying to keep the Mrs grounded!

Homebuyers report came back overly negative - no issues with that, took a builder pal around to sound it out and he gave it a glowing report bar the odd bits of cosmetic work.

All good so far.....but now my searches have come back:

1) Seller is selling with not title guarantee
2) Seller gives no assurance that title covenants have been adhered to
3) Seller will not provide any building consents, warranties etc

from reading sources on the web, number 1 doesn't appear to be too much of an issue (but how can I purchase my own indemnity?)
No idea what #2 is?

#3 is my main worry, solicitor can see planning approval for a garage in the 70s, and a withdrawn loft application last year, however it has had an extension downstairs to the rear at some point, and the loft has already been converted!

Are my worries valid?

Thanks

anselld

Given it is a repo then 1, 2 and 3 are fairly routine.
However it does mean you need to satisfy yourself that the loft conversion and the extension have been build properly, e.g. via a full survey.

Sazza100

Thanks!

Between my homebuyers report and builder review I'm not overly worried about either the extension collapsing or loft caving in (just yet either) but more where do we stand from a legal perspective? (ie could they come and tear bits of the house down legitimately?)

The homebuyer report specifically mentions seeking solicitor inquiries into the regs, so presumably this would be the same going forward if we were ever looking to sell to potential buyers.

Would a full structural survey achieve both of the following:
My reassurance that everything is ok
and
Provide any 'guarantee' to future potential buyers as to the soundness of completed works?

anselld

Sazza100 wrote: »

Thanks!

Between my homebuyers report and builder review I'm not overly worried about either the extension collapsing or loft caving in (just yet either) but more where do we stand from a legal perspective? (ie could they come and tear bits of the house down legitimately?)

The homebuyer report specifically mentions seeking solicitor inquiries into the regs, so presumably this would be the same going forward if we were ever looking to sell to potential buyers.

Would a full structural survey achieve both of the following:
My reassurance that everything is ok
and
Provide any 'guarantee' to future potential buyers as to the soundness of completed works?

It is *extremely* unlikely you would be forced to demolish anything, however future buyers would be in the same position as you are, i.e. need to satisfy themselves in the absence of full paperwork.

However, even if you are prepared to take the risk, you may still come unstuck if you require a mortgage as some mortgage companies can be sticklers for box ticking and certificates.

davidmcn

Speak to your solicitor about what consents are already with the title deeds. If they're lacking, then indemnity insurance can usually cover most of the box-ticking aspects of it. I'm generally wary of non-approved loft conversions (as sometimes those do actually need remedial work) but if your mate thinks it's structurally ok then I would be reassured.

Sazza100

Yeah he seemed happy enough with it, complete with it's en suite shower room.

Estate Agent is marketing it as a 4 bed, but the application looks to have been withdrawn for whatever reason - is it worth me querying prior to completion (with the council) or will that open a can of worms?

I was planning on it being a childs bedroom.....but am now having 2nd thoughts due to the fire safety aspect!

davidmcn

Sazza100 wrote: »

is it worth me querying prior to completion (with the council) or will that open a can of worms?

No, don't try to do anything about it yourself without first discussing with your solicitor. Bringing it to the attention of the council may invalidate any indemnity insurance you end up getting.