Buying a fire damaged property

sundog

Any advice for a 'project' like this?

This is the disclaimer from the agents:

Disclaimer
“ The property has been extensively fire damaged and as a consequence it has not been possible to
fully inspect the property. We believe it has been used as a multiple occupancy property consisting
of 9 letting rooms, 1 reception room and two bathrooms over 3 floors.

Viewing will not be possible. Interested applicants must rely on their own enquiries concerning any
accommodation details quoted and are advised to register their interest with the selling agents.”

http://www.palmersnell.co.uk/content/006_Results/002_Property/property-sales-psnrps-NEW080065-1210849765

mlz1413

sundog what do you intend to do with it? knock it down or repair.
what do you intend to use it as after? family home or HMO?
can you fund it with cash - both purchase and repair? if not what % of purchase / repairs do you have cash for, how do you expect to raise money you don't have?

With no pictures and no clear explaintion of what you are asking and why its difficult to give any comments!

PasturesNew

All the thousands of gallons of water that the fire brigade piled into the property will have taken their toll most likely on any underlying wooden structure. If it is an older house, then the whole sub floor may be rotten by now.

I think you'd have to think of it in terms of almost a full rebuild except the external walls.

If it's detached, or possibly semi, it might be worthwhile considering demolishing it and starting again. At least this way it's shiny and new and you don't pay VAT on the materials. Working with an existing, fire-damaged structure would take a lot more time/stress than starting again.

If it's mid terrace, you could still do this, but the costs go way up because of propping up both neighbours during the rebuild ... so not for the faint-hearted.

Obviously it's completely umortgageable. So if you want to throw your cash at it, make sure your contingency fund is large.

sundog

gosh- so many questions- back to the drawing board i think! thanks for replies

poppysarah

Full surveyors report or quote from a builder is needed.

Big potential problems.