Harringay, Haringey - So Good they Spelt it Twice!
Advice on making an offer on a flat - Harringay Ladder ?
Replies to This Discussion
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Permalink Reply by Ben on
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Not sure what the ladder has to do with this but firstly I would just be careful about buying a flat you can't add value to especially in the current climate... Apart from that pay attention to the ground rent and service charge, I know there there has been loads of issues with that on new builds but not sure if that extends to redeveloped flats though. Personally I wouldn't touch a new build or redeveloped property unless you can get the freehold, otherwise you are at the mercy of developer in terms of lease extension and increase in ground rent. JUST NOT GET RIPPED OFF basically.
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I'd check the quality of the finish as developers often put in cheap kitchens, cheap pvc windows, cheap flooring...you get the picture. Basically there's a reason they're a developer, because they can buy a wreck cheap, do it up (cheaply) and make it look all shiny and expensive to sell for a profit.
I would whole heartedly recommend something to add value to, as you can finish to a much higher spec and reap the benefits of the flats profit in the long term. Obviously my opinion though...
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Permalink Reply by Jane on
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I would get a full survey (builders structural survey) rather than just a homebuyers report on the property. Lots on google to help you decide though. Agree also haggle price down as market is very slow.
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Permalink Reply by Costa on
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Hello R, I just bought my first place recently, know what it's like. Assuming an offer is accepted (haggle!) make sure to check out;
- Lease length / Ground rent / Sinking fund / Service charge
- Ask for a copy of the lease, read it and see how the above are described, in particular how they increase and what your are responsible for. Speak to your solicitor about it.
- Look online for reviews of the developer's previous customers
- Ask what warranties the works come with. They should be warrantied if newly done. Check they have replaced the boiler and heating system, not just the visible fittings.
- If it's in a conversion, check out the acoustics between the flats well.
- Don't assume you have access to anything (loft, garden) unless the lease says so.
- Check out the usual; do the windows only face north, are the bins kept outside your windows, is something you wont like about to be built next to you etc.
If you need it, I can recommend a good surveyor / mortgage advisor and so on. Good luck with it.
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Dear all, many thanks for all your advice. unfortunately, my first offer was not accepted but I don't think the flat is worth much more so will need to rethink what my priorities are.
If anyone knows of someone thinking to sale a 3 bed for sale on the Ladder please get in touch!
we are very flexible on timescale and are chain free.
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