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2 weeks from completion - Found out new 35-floor flat has been designed and will overshadow new Flat
MLA8695
Posts: 1 Newbie
Hi MSE community,
I am 2 weeks from completion on buying my first flat/home. I saw that there was a vacant lot about 15 metres from my new place. Looked at searches again and found that they had placed a development in the wrong place on the map ( it originally was 88 metres from my new home and not an issue at all). This new development is a 35-story block of flats that will block a significant portion of the light coming into my new flat. Currently, the planning permission has expired ( as of 2019) but i have been informed by my solictor that if the developers had permission once they could easily get again. I am now worried about what this new development will mean for my flat in the long-term - will it affect the sales price in 5 years?
If anyone has any advice or has been in a similar situation I would appreciate any and all insights
Thanks,
MLA
I am 2 weeks from completion on buying my first flat/home. I saw that there was a vacant lot about 15 metres from my new place. Looked at searches again and found that they had placed a development in the wrong place on the map ( it originally was 88 metres from my new home and not an issue at all). This new development is a 35-story block of flats that will block a significant portion of the light coming into my new flat. Currently, the planning permission has expired ( as of 2019) but i have been informed by my solictor that if the developers had permission once they could easily get again. I am now worried about what this new development will mean for my flat in the long-term - will it affect the sales price in 5 years?
If anyone has any advice or has been in a similar situation I would appreciate any and all insights
Thanks,
MLA
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Comments
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Have you exchanged?If you've have not made a mistake, you've made nothing0
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Have you exchanged contracts?0
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Why didn't the development go ahead? Are there now different plans likely for the site?0
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Check the planning portal you can't just work of the searches.0
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Now you are better aware of what everyone overshadowed by the place you are planning to buy feel0
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You need to consider what the realistic impact of the development is going to be. If it is going to make your new flat unsellable and unpleasant to live in, then don't buy - pull out and forfeit your deposit. It could be a small price to pay to dodge that particular bullet.
If it is going to be ok, buy it and hope it doesn't get built.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0 -
Great you’ve found out prior to exchange. Pull out and find something else30th June 2021 completely debt free…. Downsized, reduced working hours and living the dream.0
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tacpot12 said:You need to consider what the realistic impact of the development is going to be. If it is going to make your new flat unsellable and unpleasant to live in, then don't buy - pull out and forfeit your deposit. It could be a small price to pay to dodge that particular bullet.
If you're suggesting that the OP should pull out after exchanging contracts - I'm not sure that's sound advice.
The OP would be responsible for the seller's consequential losses.
So if the new development would make the flat unsellable and unpleasant to live in, and future prospective buyers find this out - so the seller might have to slash the price by, say, £50k or £100k or £200k in order to get another buyer. That would leave the OP to be sued for £50k or £100k or £200k.
(It's not clear if the OP is buying a newbuild. If they're not there might also be a chain of consequential losses to add to the bill.)1
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