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Last minute offer revision for repairs?
Esinem
Posts: 17 Forumite
I'm just about to complete on a flat (in a 30's mansion block of 20) but the mansard roof is due for repairs and the windows are to be replaced in September. The housing assoc'n who own the block cannot state a budget. I'm finding out what's in the reserve fund as I'm guessing I'll be in for 1/20th of what that doesn't cover.
The competition for the flat was pretty fierce, the seller was motivated and I'm a cash buyer. The survey valued it at exactly what I'm paying, although they allowed for the windows (d/g leaking>some condensation & missing fittings) but not, unsurprisingly, the roof. I'm buying it to rent, possibly flip in Streatham SW2, after light renovation.
What would you do given the unknown of the forthcoming repair bills?
The competition for the flat was pretty fierce, the seller was motivated and I'm a cash buyer. The survey valued it at exactly what I'm paying, although they allowed for the windows (d/g leaking>some condensation & missing fittings) but not, unsurprisingly, the roof. I'm buying it to rent, possibly flip in Streatham SW2, after light renovation.
What would you do given the unknown of the forthcoming repair bills?
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