Should We or Shouldnt we?

fend

Hello all, looking for opinions of a situation I am currently hoping to put an end to by Monday as my stress levels are raising higher and higher. Im looking for personal opinions more than expert advice. And just to clarify, that I have no major knowledge of the law, the county councils, estate agents, surveying or anything else similar. im just your average joe looking to buy...

August we went to view a number of houses for purchase as it is our first home and we'd like to think we are in the position to finally bite the bullet. After viewing several over a number of weeks, we finally found a house that we think would suit our needs perfectly. a 3 bedroom bungalo with a chalet at the rear with another 2 bedrooms and living area. The house overall is ready to move into. Brand new kitchen, flooring etc. All the things rhat make it a real catch. The house was built in the 1970s and is overall in brilliant condition with literally only minor things that need attention.

after considerable thought, we made an offer of 171,000 (Placed on the market for something in the region of 190 or somethin along those lines, cant remember exact figure). The offer was accepted and we agreed to get in the surveyor for a report to be made. We were informed by the estate agent that the chalets pipes had burst and needed to be repaired before we made the offer. we agreed to undertake this work as we figured this was a great price for the site and house in question.


Surveyor went in, did his job and found nothing wrong with the house bar a few minor things which we expected tbh. My solicitors however found the following issues:

1. The Local Authority had taken the rights to the road frontage in the event work needs.to be done on the main road.

2. The chalet out back, has no planning permission. As far as I know, it was to be made into a garage but instead ended up being a chalet. regardless anyways, it has no planning attached to it, causing a host of issues.

There were a couple more insignificant things which were not much hassle.
With this new information, we dropped our offer by 13,500euro in the hope that we could apply for retention and still have a bargain.

Did some investigations yesterday, and found out that retention can NEVER be sought for the chalet and if we were to apply for planning to extend the main house, we would more than likely be opening a can of worms for ourselves.

The house is question is our first home and we hadnt planned on living in it forever. Minimum10 years anyways.

The vendors will under no circumstances drop the price any lower in light of the new info. The want the deal complete within 2/3 weeks as they live in the US and its basically a take it or leave it situation otherwise its back on the market next week.

With all this information, would you take it or leave it? Opinions and thoughts please and appolagies for the long long post.

4Sticks

Why are you even asking the question? Cut your (emotional) losses now and be glad you are not financially bound to this place.

In future let the seller solve all problems not you.

kilclon

It may still be value for money despite the problems but its obviously a riskier proposition than a house with no such issues. How does the price compare with similar properties in the area. It would have to be considerably cheaper than a comparable home with no issues imo.

When was the chalet built?

fend

Chalet was built c1992 I think. The area is in the country, with no houses around being of similar price. Hence why Im torn. Most other houses are 240,000plus... That being said, im sure none have difficulties such as this.

Torn between the bargain and the gamble.

Im thinking long term if I want to expand the main house. How difficult is it going to be for me to get planning then? Or what about when I want to resell in a number of years? Will the market want such a house with the flaws and will I make my money back from it?

kilclon

Well you can't be forced to remove/convert the chalet at this stage. Why can you never apply for retention? Were they refused before? If you could sort out the planning issues, this alone would add value to the property.

You can do a lot with 50-70k if that's the price difference between this and a truly comparable house. Do you really need the chalet? Is this a big factor in you wanting to buy this house? You could change it back to its original purpose if most of the value of the property for you is in the house. You would then be free to apply for pp for an extension.

fend

Retention isnt possible as its something to do with the area being a certain type of developmental area. the only reason the chalet would be granted it, if its being used to house an immediate family member wil an illness etc. And not to be used as a general "GrannyFlat"

Im not sure of the specifics, all I know is that:
"It is not possible, nor will ever be possible" - quote fron the County Council.

Without the chalet, Im not sure if the house itself is worth the money. Good sitting room and kitchen, 2 box bedrooms, 1 medium bedroom. Boiler and stuff will have to be changed straight away. Simple enough things which we had accounted for already.

the chalet originally was to be made into a garage as far as im aware and somehow got upgraded to a 2bedroomed mini house (ensuites in both and open plan kitchen/living area.

Why PP was not applied for is beyond me. I will never understand.

I know the council cant come in and knock ot down now, but in relation to insurance, or anything I may want to do with it, im left stumped.

I really am 50/50 at this stage. To some, the amount for the house may be considered nothing and a bargain, but for a first time buyer putting their life into it, im expecting less problems than this.

martinn123

The decision, may not be yours to make, assuming you are not a "cash"buyerThe Bank may not accept title under a mortgage, in the circumstances you outline.
So have a chat with your Solicitor,