Non-compliance issues in apartment block

pcasso

We are sale agreed on an apartment and are keen to proceed with the sale.
However a building survey has shown some non compliant issues with the apartment itself, most of which are quite trivial and we are happy to rectify.
There is also a suggestion that the block and development may also have some non compliance issues which are out of our control (and budget) to remedy.

Our solicitor is advising us against proceeding with the purchase as they feel it could be difficult to sell in the future. In fact they have cautioned against buying any apartment as they feel these issues are a recurring theme.

Has anybody buying or selling an apartment encountered similar non compliance issues and has there been problems arising from them?
Will we face similar dilemmas pretty much with any apartment we decide to purchase?
Thanks in advance for sharing experiences, thoughts or professional opinions.

amdublin

Are you getting a mortgage/bank loan?

Will they still loan on basis of these issues?

amdublin

pcasso wrote: »

Thanks in advance for sharing experiences, thoughts or professional opinions.

Well you have the professional opinion from your sol. You're paying him/her for a reason...

Wabbit Ears

If your solicitor tells you to walk away from a purchase, walk away..
It really is that simple.

Take each apartment and apartment block on its own merits.

Mrs OBumble

It's odd, though, if the solicitor is saying "don't buy any apartment". Would you consider getting a 2nd opinion - you might just have got someone from the very conservative end of the spectrum.

The_Morrigan

pcasso wrote: »

We are sale agreed on an apartment and are keen to proceed with the sale.
However a building survey has shown some non compliant issues with the apartment itself, most of which are quite trivial and we are happy to rectify.
There is also a suggestion that the block and development may also have some non compliance issues which are out of our control (and budget) to remedy.

Our solicitor is advising us against proceeding with the purchase as they feel it could be difficult to sell in the future. In fact they have cautioned against buying any apartment as they feel these issues are a recurring theme.

Has anybody buying or selling an apartment encountered similar non compliance issues and has there been problems arising from them?
Will we face similar dilemmas pretty much with any apartment we decide to purchase?
Thanks in advance for sharing experiences, thoughts or professional opinions.

Professional advice is not permitted (legal, tax, medical etc) if you wish to seek these types of responses then a second opinion from another solicitor is your only avenue.

Santa Cruz

pcasso wrote: »

We are sale agreed on an apartment and are keen to proceed with the sale.
However a building survey has shown some non compliant issues with the apartment itself, most of which are quite trivial and we are happy to rectify.
There is also a suggestion that the block and development may also have some non compliance issues which are out of our control (and budget) to remedy.

Our solicitor is advising us against proceeding with the purchase as they feel it could be difficult to sell in the future. In fact they have cautioned against buying any apartment as they feel these issues are a recurring theme.

Has anybody buying or selling an apartment encountered similar non compliance issues and has there been problems arising from them?
Will we face similar dilemmas pretty much with any apartment we decide to purchase?
Thanks in advance for sharing experiences, thoughts or professional opinions.

Since the vast increase in apartment building over the last 20 years there have been several instances of bad management, bad construction etc. If the solicitor says to walk away I would recommend that you accept the advice.
There are several well managed apartment complexes where properties are available. Don't rely on the solicitor and the Requisition 37. Make sure to have a good walk around the complex. Note how well or otherwise it is maintained. Is the bin area tidy, Do the common areas look like they are hoovered and polished regularly. What about car parking. Are they cars abandoned and so on. Speak with some owners. Check out their attitude to management fees and value for money.

pcasso

The_Morrigan wrote: »

Professional advice is not permitted (legal, tax, medical etc) if you wish to seek these types of responses then a second opinion from another solicitor is your only avenue.

Apologies for that. I didn't realise. My mistake.

My solicitor would be very precise and conservative by nature. That is why I wondered f the problems we are encountering are the norm or exceptional.

Also our building engineer, who is also a professional was very enthusiastic about the apartment.
I was just hoping that some boardsies might have had experiences relevant to our current dilemma

P. Breathnach

You are making a useful distinction between issues that you can deal with, and those that are outside your scope. The other issues can be deal with only if there is a good Owners Management Company. So if you are still interested in the apartment, you need to conduct due diligence on the OMC.

Anybody thinking of buying into a MUD should do that; when there seem to be issues relating to the development, the due diligence should be conducted with that in mind.

I don't think that people should avoid MUD properties (apartments or other types of unit). I do think that many people do not pay enough attention to the importance of OMCs. I would always have a good look through OMC accounts before I would even make an offer. I do have the advantage that I am in my comfort zone with such things. If you are not, seek advice from somebody who is versed in accountancy matters. Not all solicitors are.

pcasso

P. Breathnach wrote: »

You are making a useful distinction between issues that you can deal with, and those that are outside your scope. The other issues can be deal with only if there is a good Owners Management Company. So if you are still interested in the apartment, you need to conduct due diligence on the OMC.

Anybody thinking of buying into a MUD should do that; when there seem to be issues relating to the development, the due diligence should be conducted with that in mind.

I don't think that people should avoid MUD properties (apartments or other types of unit). I do think that many people do not pay enough attention to the importance of OMCs. I would always have a good look through OMC accounts before I would even make an offer. I do have the advantage that I am in my comfort zone with such things. If you are not, seek advice from somebody who is versed in accountancy matters. Not all solicitors are.

Thanks for your thoughts.
The OMC has changed, perhaps because of legislation, in the last number of years and seems to be reasonably well run now.
They do seem to be still dragged down a bit by the previous incarnation and there is only a very limited sinking fund at the moment.
I suppose talking to the OMC might give me some insight into their intentions in the future and whether the plan to rectify any arising non compliant issues

The_Conductor

You make it sound as though your solicitor has a 'thing' against apartments in general- and no matter what apartment you see- he will have the same opinion- and advise you against purchasing.

You have had a survey done- which was broadly positive with only very minor findings- and any findings outside the remit of the interior of the apartment, are outside the scope of you, as a purchaser, in any event.

While normally I'd listen carefully to all advice- seeing as you're implying this guy has a hangup about apartments in general- rather than a specific issue with 'this' apartment- I'd actually say ignore him.

If he comes back with issues specific to this apartment- fine- but some broad stroked bigotry against apartments in general, isn't helpful to you, or anyone else.

Mrs OBumble

Ya - that's why I suggested a 2nd opinion. Solicitors a are bit like doctors: they make the best call they can based on the evidence available, but it's always affected by their prejudices.

mdebets

pcasso wrote: »

The OMC has changed, perhaps because of legislation, in the last number of years and seems to be reasonably well run now.
They do seem to be still dragged down a bit by the previous incarnation and there is only a very limited sinking fund at the moment.

This would raise some major red flags for me. You should run not walk away from this apartment.
If they don't have enough money in the sinking fund, it means that your management charges will be raised pretty soon to rectify this (if the management company is run properly). It also means, that they might not have enough money, to fix the issues you mentioned above, so you might need to pay extra for this as well. And this presumes, your neighbours have the money too and are willing to pay these additional charges. So it means you should budget for some additional charges (dependent on how low the sinking fund is and how costly the issues you mentioned are).

the_syco

pcasso wrote: »

The OMC has changed, perhaps because of legislation, in the last number of years and seems to be reasonably well run now.
They do seem to be still dragged down a bit by the previous incarnation and there is only a very limited sinking fund at the moment.
I suppose talking to the OMC might give me some insight into their intentions in the future and whether the plan to rectify any arising non compliant issues

Ensure to check how many apartments are paying their fees, and how many owe a substantial amount. The OMC can only run so well on limited funds, and some things may be put on the long finger if not everyone pays up.