Cyclical works on ex-LA flat

greentea2020

Hi everyone,

New here - I think I’d like to get another point of view on the situation I have with a flat I’m buying.

I’ve put an offer down for an ex LA flat in London. The solicitor uncovered that there are cyclical works planned in 2 years and those include a new roof. The housing association hasnt sent an estimate for the works.

It’s a small block of 20 flats without a lift and with what I believe is a flat roof. I’ve asked for clarification on the cyclical works, a potential estimate and the details on how would my share be calculated.

I wonder what other options do I have for this now. The flat is in a condition that needs a fair amount of mostly cosmetic work and I’ve thought of getting a survey and a valuation and possibly renegotiate the price once I have a clearer picture of the extent of the works (both the major ones and the refurb).

I’m quite far down the process - nearing 3 months now and I like the flat so would rather not pull out.

Is there anything else I can do? Are price renegotiations possible at this stage?

Thanks

mad_spaniel

my son lives in an ex HA flat. The deeds show a re-roof some years ago cost £7000. More recently repointing reinsertion of new bricks where necessary and new lintels above the windows cost £5000. However there was the option to pay in one go, with a discount. If not then repayment could be £x over several years, with a charge on the property.

eddddy

greentea2020 said:

Are price renegotiations possible at this stage?

Yes, I guess price re-negotiations are possible at any stage, until contracts are exchanged.

Obviously, it's entirely up to the seller whether they will enter into any re-negotiations, and how they might react more generally.

For example, the seller might be desperate to sell and 'give in' easily, or they might be outraged at the idea and stand their ground.

Obviously, you have to give the impression that you'll walk away if you don't get a discount - otherwise the seller has no reason to give you a discount,

bucksbloke

I just would never buy a lease where a local authority is a landlord. They tend to either have direct trades organisations or favoured maintenance contractors that they use, and they are not known for doing the best job at value for money pricing. 
Price is always negotiable until contracts are exchanged, however as a seller I would not be giving you a discount for a roof that I would never live in. Also, there is no guarantee that those works will take place in two years!

greentea2020

Thanks - all of these help.
Will see what the survey returns and take it from there.

davidmcn

It depends whether the price already takes into account the condition of the roof. If the price already reflects that the roof is nearing the end of its life, the flat doesn't suddenly become worth even less just because there is vague talk about planning the reroofing.