House overpriced now loft conversion has no building regs. Advice needed.

Legacy_user

Hi guys,

Connells were advertising a 3 bed end terraced house with loft conversion. The loft conversion being the 3rd bedroom. It was advertised at £190,000 and we offered £175,000. This was accepted straight the way and we were happy knowing we had £15,000 off to do repairs.

It has since turned out the seller doesn't have building regs and therefore the loft cannot be classed as a bedroom so it's actually only a 2 bedroom house. However the mortgage lender and the surveyor both valued it at £175,000 as a 3 bed house! I went back to the surveyor and he still said it was worth £175,000 even as a 2 bed.

So now I have found all of this out, our offer of £175,000 which was accepted means we have actually paid full price for the house and we actually really havent got any money off at all.

So would you go back to the seller and renegotiate our offer down further to factor in the repairs needed. Like adding plumbing to the utility room, it needs a new driveway gate which is falling to bits, rendering needs repairing, it needs a new fusebox as it has the old type and quite a few other bits.

It is even advertised with a utility room. The only thing the utility room has is a small cupboard, a small work surface and a plug socket! It doesn't even have any plumbing so how can it be called a utility room???

I'm really angry with connells for putting the price on for £190,000 and advertising it as a 3 bed house without seeing building regs certificates! When clearly it is more of a £175,000 house.

Any help would be appreciated.
Thanks

Comms69

Craigh1983 wrote: »

Hi guys,

Connells were advertising a 3 bed end terraced house with loft conversion. The loft conversion being the 3rd bedroom. It was advertised at £190,000 and we offered £175,000. This was accepted straight the way and we were happy knowing we had £15,000 off to do repairs.

It has since turned out the seller doesn't have building regs and therefore the loft cannot be classed as a bedroom so it's actually only a 2 bedroom house. However the mortgage lender and the surveyor both valued it at £175,000 as a 3 bed house! I went back to the surveyor and he still said it was worth £175,000 even as a 2 bed.

So now I have found all of this out, our offer of £175,000 which was accepted means we have actually paid full price for the house and we actually really havent got any money off at all. -and the problem is? You are still paying the same amount for the same thing.

So would you go back to the seller and renegotiate our offer down further to factor in the repairs needed. - if you want, but I'd expect them to laugh at you Like adding plumbing to the utility room, it needs a new driveway gate which is falling to bits, rendering needs repairing, it needs a new fusebox as it has the old type and quite a few other bits. - none of this is new information, you are paying the same price, for the same thing as before

It is even advertised with a utility room. The only thing the utility room has is a small cupboard, a small work surface and a plug socket! It doesn't even have any plumbing so how can it be called a utility room??? - A utility room does not require plumbing. But again YOU KNEW THIS when you offered

I'm really angry with connells for putting the price on for £190,000 and advertising it as a 3 bed house without seeing building regs certificates! When clearly it is more of a £175,000 house. - ok, be angry.

Any help would be appreciated.
Thanks

Help with what? There's nothing to even remotely advise on here.


Either buy the place or dont

babyblade41

Can't express it any clearer than Comms

G_M

Connells will advertise it at whatever price the seller decides they want it advertised at. It's not their decision.


Building Regs etc are not something estate agents check - they are not lawyers. That is why you, and the seller, use solicitors.In this case, you solicitor has one his job.


The 'utility room' is whatever it is. Presumably you viewed the house? You saw what was and was not there? I'm sure you could add plumbing once you own the property if you wish. If it is too small for, say, a washing machine, well, you must have sen that fromyour viewing....??


3rd bedroom? Well, what matters really is whether you can safely use it. If the attic conversion has been well done, with proper insulation, safe access/exit, and sufficient strengthening to the floor joists if necesary, then there's no problem.


How long ago was it done? Building Regs can only be enforced within 12 months, so its the quality of the work that's the isue, not whether the LA might demand paperwork.


Of course, if the conversion was a cowboy job, that is different.........

caprikid1

"It was advertised at £190,000 and we offered £175,000. This was accepted straight the way and we were happy knowing we had £15,000 off to do repairs."


Nothing has change apart from the building control, my loft conversion was done before 1940 so I guess it does not either, still described as a 4 bed house.

Marvel1

Craigh1983 wrote: »

So would you go back to the seller and renegotiate our offer down further to factor in the repairs needed. Like adding plumbing to the utility room, it needs a new driveway gate which is falling to bits, rendering needs repairing, it needs a new fusebox as it has the old type and quite a few other bits.

You already did, you offered £15K below the asking.

ethank

You appear to be trying to find a way to pay less for something that the valuer has said is worth £175,000.

Note valuations will never come back at a higher amount than the amount you've told the mortgage company you are buying it for. So essentially, the valuer is saying the property you are buying is worth what you are paying.

Jumblebumble

Craigh1983 wrote: »

Hi guys,

Connells were advertising a 3 bed end terraced house with loft conversion. The loft conversion being the 3rd bedroom. It was advertised at £190,000 and we offered £175,000. This was accepted straight the way and we were happy knowing we had £15,000 off to do repairs.

It has since turned out the seller doesn't have building regs and therefore the loft cannot be classed as a bedroom so it's actually only a 2 bedroom house. However the mortgage lender and the surveyor both valued it at £175,000 as a 3 bed house! I went back to the surveyor and he still said it was worth £175,000 even as a 2 bed.

So now I have found all of this out, our offer of £175,000 which was accepted means we have actually paid full price for the house and we actually really havent got any money off at all.

So would you go back to the seller and renegotiate our offer down further to factor in the repairs needed. Like adding plumbing to the utility room, it needs a new driveway gate which is falling to bits, rendering needs repairing, it needs a new fusebox as it has the old type and quite a few other bits.

It is even advertised with a utility room. The only thing the utility room has is a small cupboard, a small work surface and a plug socket! It doesn't even have any plumbing so how can it be called a utility room???

I'm really angry with connells for putting the price on for £190,000 and advertising it as a 3 bed house without seeing building regs certificates! When clearly it is more of a £175,000 house.

Any help would be appreciated.
Thanks

Why should you care about money getting off?
You have a house valued at £175K and you are paying £175K
Why do you think you have any entitlement to be buying at below market value?
( PS offering a house at £190K and being willing to accept a 15K less offer and offering at £175K with no negotiation has the same outcome

System

The point is as a 2 bed house it is valued at £175,000. Why advertise it for £190,000 when that's is way over the top!

When in actual fact the house should have been advertised more around the £175,000 mark and then I would have offered less because it needs quite a bit of work!

Am I missing something here? Isn't this how putting in an offer for a house works!?? If the property is in fantastic condition, yea offer the asking price... If it needs loads of work then offer lower to make up for that!

It's not about trying to get money off for the sake of it! If the house was advertised as £175,000 (which is the proper market value!) Your telling me all of you would go straight in at £175,000 because that's what it's worth!!!???? I don't think so!

davidmcn

Craigh1983 wrote: »

If the house was advertised as £175,000 (which is the proper market value!) You're telling me all of you would go straight in at £175,000 because that's what it's worth!!!???? I don't think so!

Maybe not, but if that ended up being the agreed price and the surveyor confirmed it's a fair assessment of the market value, I wouldn't be gurning about it.

Is anything actually wrong with the loft conversation other than the lack of paperwork?

Amoux

A loft room can only count as a bedroom if it meets all the necessary building regulations. Estate agents do need to be careful and do some due diligence on this before marketing. In my experience if there is any doubt, estate agents would not classify it as a bedroom.

Unfortunately I am not convinced you will get anywhere by demanding a price reduction. The valuers agree with the price you have paid, but for some reason you seem to think you are entitled to a discounted price...:rotfl:

That said, if you need a third bedroom I would be prepared to walk away on the basis that it does not meet the description the estate agents claimed. See what happens, they may wish to renegotiate.