Loft conversion, building regulations - First Time Buyer

purplestar133

I am completely confused now. I have seen a copy of the indemnity schedule now and I phoned a solicitor and asked for a quick free consultation "before I signed up". The person I spoke to (who could have been a receptionist for all I know) said that she thought the indemnity policy was ok, and the only issue would be how much the property was covered for. The amount it is covered for is fine.


She said when was the loft converted, I said I didn't know, and she said well if it's been there for a while, it's probably fine. I was asking her because I wanted to know the legalities of it, not 'probablies'! I asked if it would be a problem when I resell, she said not if the schedule is done properly and it sounds like it has been. I don't know what about me saying the words 'indemnity schedule' indicates that it has been done properly.


I'm doubting again now. My deadline for submitting the offer is in 2 hours. I am going to put my best offer in on the condition she gets the regularisation done, but I think that will put her off me as a buyer - or the EA will put her off me!

warehouse

Walk away.

purplestar133

warehouse wrote: »

Walk away.

I just wonder whether it is quite common for a loft conversion not to have building regulations. Almost every house we have looked at has had a loft conversion so we may just keep encountering this issue.

Dan-Dan

purplestar133 wrote: »

I am completely confused now. I have seen a copy of the indemnity schedule now and I phoned a solicitor and asked for a quick free consultation "before I signed up". The person I spoke to (who could have been a receptionist for all I know) said that she thought the indemnity policy was ok, and the only issue would be how much the property was covered for. The amount it is covered for is fine.


She said when was the loft converted, I said I didn't know, and she said well if it's been there for a while, it's probably fine. I was asking her because I wanted to know the legalities of it, not 'probablies'! I asked if it would be a problem when I resell, she said not if the schedule is done properly and it sounds like it has been. I don't know what about me saying the words 'indemnity schedule' indicates that it has been done properly.


I'm doubting again now. My deadline for submitting the offer is in 2 hours. I am going to put my best offer in on the condition she gets the regularisation done, but I think that will put her off me as a buyer - or the EA will put her off me!

It sounds like this development has gone well past any time span where the council will get involved , you should be solely worried about if its SAFE or not , period

The issue for you , is that your stipulating anything , if there are other offers , will rule you out , even if it comes to pass that the `winning` bidders end up pulling out over the very same thing 2 months down the line

purplestar133

Dan-Dan wrote: »

It sounds like this development has gone well past any time span where the council will get involved , you should be solely worried about if its SAFE or not , period

The issue for you , is that your stipulating anything , if there are other offers , will rule you out , even if it comes to pass that the `winning` bidders end up pulling out over the very same thing 2 months down the line

Yes, I had thought of mentioning to them that "yes, we are saying this now, but the other bidders will say it too when their solicitor gets involved".

Dan-Dan

purplestar133 wrote: »

Yes, I had thought of mentioning to them that "yes, we are saying this now, but the other bidders will say it too when their solicitor gets involved".

The estate agent will push the offer they feel is the most likely to proceed fully , and there are people out there who will quite happily skip the formalities of things and regret it later

At least you dont sound like you`ll be one of them

dannim12345

Also are they selling it as, for example, 2 bed plus a loft room or a 3 bed. I believe (no expert) if it doesn't have building regs they can't really call it a bedroom.

Could be an issue when you sell if its listed as 3 bed now and then you have to call it a 2 bed plus loft room...

purplestar133

dannim12345 wrote: »

Also are they selling it as, for example, 2 bed plus a loft room or a 3 bed. I believe (no expert) if it doesn't have building regs they can't really call it a bedroom.

Could be an issue when you sell if its listed as 3 bed and then you have to call it a 2 bed plus loft room...

That is an issue as they are selling it as 2 bed, when one of the bedrooms is the loft room. Tut. Tut.

Dan-Dan

Then thats a whole different ball game , if they are selling it as a 2 bed , then how does the AP (and indeed your offer) compare to other 2 beds ?

purplestar133

Dan-Dan wrote: »

Then thats a whole different ball game , if they are selling it as a 2 bed , then how does the AP (and indeed your offer) compare to other 2 beds ?

We have seen other 2 beds with the loft as a bedroom. Most have been a little bit less than this house, but this is in a more expensive area. An area that we like. I'm holding off bidding much more as we could probably get a 3 bed somewhere for slightly more than this, but that would mean compromising on area and there would probably still be a loft conversion to contend with!