Flat sale - survey issue with roof

Alice6789

Hi all, 
A few months ago, I agreed a sale price for my flat of 9k less than I paid 4 years ago. This was the highest offer of three over several months of being on the market. Going forwards, the buyer had a survey done which they said showed some problems including with the roof and asked for an 8k reduction. I haven't seen the survey but refused and they agreed to continue with the agreed price. Recently, I heard from a surveyor who said the freeholder has asked him to inspect the roof to check if there's something wrong. There are two flats involved with no service charge. I'm concerned how this will affect things now and neither the buyer nor the freeholder informed me this was happening. What could the possibe consequences be and what are my options?

anselld

If the freeholder finds that repairs are needed then they will presumably require you to pay.  If the repairs amount to more than £250 per flat then the freeholder will need to do a section 20 consultation process, which you will need to declare to the buyer.

The freeholders surveyor may have nothing to do with the purchase.  Either way, nothing you can do at this stage until you hear what the freeholder has found on the roof.

eddddy

Either it's a huge coincidence, or your buyer has told your freeholder that something is wrong with the roof, and you freeholder has instructed a surveyor to investigate.

If the surveyor confirms that expensive repairs are required - the bottom line will probably be either:

• You'll have to pay your share of the roof repair bill before completion
• Or your buyer will have to pay it after completion - so is likely to expect you to reduce the selling price

The two flat owners can voluntarily agree to pay their share of the roof repair bill.

But if one or both owners refuse to pay voluntarily (and the bill is over £250 each), the freeholder can force both parties to pay by doing a section 20 consultation. But that might increase the total costs you'll have to pay.