Buying directly from developer but a period conversion flat

JK4158

Hi we did viewing and really like a victorian terrace flat in North West London.
It is a leasehold and the EA told us that it is a sale by a developer and is newly renovated vacant property
We've only been looking at other period conversions owned by normal people not developers

Are there anything to watch out for when buying from developers a conversion flat vs. buying from normal people? 
We are keen to move fast and cannot afford to lose time/ have complications in the process due to mortgage expiring in three months

Thank you for any insights!

diystarter7

Not that I know off.
As it's new, check it has all the certificates etc and in new conversions like this, the noise insulation etc should be better as they are getting more strit over the years. But this varies from area to area.  Older conversions may look great but soundproofing may not be great

May I ask have yo ever lived in an apartment? The reason I ask is noise travels and it depdns on how is living above/below/side of you as some people are nosiy and some are unreasonable and will complain about anything and everything

I found the old couil concrete flats I used to visit via work as the best for noise insulation


Also with like any new development - be aware if your place is not the last to be completed as works may go on for yonks and may never end if the builder goes belly up - your solictor should be able to get all the legals/certificates/etc/etc

Ensure in the paperwork you know what is yours, what is not, who has access to what, who pays for what, and if the property can be rented out and if it can, I would not buy. (personal reasons)

diystarter7

ps - do the usual checks as the lender does the basics to see if mortge would be covered - check for cracks/damp/ roof/gutters/paths/fences/tress/etc/etc as these can be very costly to replace and trust me time flys before you know it you've been there 3/4 years and the roof/guters on their last legs. Check if the toilets etc are macerator types etc as maintenance involved and some extra noise from the ones I've seen  (check roof for root etc)

A good conversion often has a new roof as they build into the loft.
These old places often have big gadens and fencing can easily set you back 10k

JK4158

I always lived in victorian conversion flats actually and used to noise level, hoping it's better as this one is newly converted?
I am a FTB and am nervous about buying from a developer (somehow thinking they will scam me for no reason...)

This flat however is a Victorian terrace and when I looked at planning permissions, it has one for dormer addition but no other structure changes have been made (comparing old listing photos vs new ones now) but the inside has been completely renovated design wise. So interms of checking certificates, it would be mostly checking whether the dormer addition had been done in line with the planning permission?

Doozergirl

Is this a renovated existing conversion or a house that has been converted into flats? 

If it is newly converted then your lender will probably be expecting a 10 year warranty on the property.  

If it isn't then you won't get that. 

With both you will want the Building Regulations Completion Certificate and the gas and electric certificates will be helpful.  

If it is an existing conversion then don't assume that everything is tip-top.  Get a decent survey because some developers are not scrupulous and will paper over the cracks, both figuratively and literally.  

TripleH

Check the leasehold document. If a large conversion and most plots reserved, they won't amend any terms in the lease you query as poorly worded.

As above, sound can travel funny. You hear noise you assume comes from flat directly above / below, but it could come from diagonal neighbours.

user1977

Doozergirl said:

Is this a renovated existing conversion or a house that has been converted into flats? 

If there's no sign of a planning consenrt for the conversion then I presume (hope!) the former.

In which case - what has actually been "renovated"? If it's just new kitchen/bathroom/decor etc, it's going to be much the same process as buying from a "normal" seller who has done the same sort of work.

JK4158

I will ask the agent, I think the developer might have bought the first floor flat (existing conversion of house into flats) and added a dormer and renovated the whole thing nice
Thank you everyone, so helpful

LegallyLandlord

I’d also check the service charge and ground rent. It’s useful to know exactly what work has been done eg the roof, insulation, how old’s the boiler, are the windows new. And also check the EPC - it should be over a C if the property has been properly renovated.