Buying a 7 Year Old House Without a Warranty

chanz4

it wont cover much so wouldnt worry about it

subjecttocontract

Tuffers1875 said:

subjecttocontract said:

Why can't the vendor get insurance and transfer it to you on sale completion ? That way you have insurance, you are not paying for it and you aren't just taking a chance that everything will be ok.

He has offered to pay for it but the way things have drawn out I doubt our buyers will wait for him to get a surveyor in and then issue a warranty/insurance. We want to exchange in 2 days time and complete in 11 days time.

Then clearly you have left it to late to take any action.

ThisIsWeird

Is this a relatively small local builder? Do/did they have a good reputation?
If they are 'known' in the area, then they will, almost certainly, have earned quite strong opinions on how desirable their houses are - it's certainly the case around here (some to avoid, and some to chase).
Mind you, if they had a good reputation, why did they go bust?!
Who would typically act as Building Control for small developments like this? I'm guessing not the Local Authority, who tend to BC individual homes and extensions(?), so these developers must surely require independent surveyors to report that all stages are conforming to Regs? There must be a 'report' somewhere, covering your areas of concern - proper footings, and suchlike?

MEM62

The the warranty is based on covering the NHBC liabilities It is unlikely to be worth much. I wouldn't bother.  In any case, after 7 years, any major issues should have come to light.    

400ixl

Did you have a decent survey done on the property earlier in the process? That should give you a good idea of the condition and whether there are any major issues.

If you only had a basic (or none if not getting a mortgage) then its probably too late now to get one done.

TripleH

For context, we bought a new build that had 'issues' but these showed up within the first year of us living there (18 months of being completed).

I would get a survey as that is likely to identify issues and if you can, speak to neighbours. If there is an issue, they'd have it by now as  the issues we have have been consistent across our estate.