Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
I’m trying to purchase a property that is a circa 1910 built share of freehold, 900 year lease, maisonette. The valuer sent by the mortgage company has indicated that it appears as a purpose built but has asked the solicitor to confirm because if not and it’s a conversion then we need to check building regs / planning were sought (which obviously the seller won’t have).
Many clues point to it being a purpose built (which is what I want) but the solicitor said that the local authority planning history search revealed no information about the original plans for the building. The original lease for the maisonette dating back to the 1980s refers to the property as ‘purpose built’.
There are only two maisonettes in the building – ground floor and first floor and planning history didn’t show anything for either. The mortgage company wants this clarified and I wondered what my options are as the seller and local authority is unable to provide clarification?
I’m reasonably confident it’s purpose built, not least because of the lease mentioning it and the layout of the building (including both maisonettes having their own front doors) but also because the door numbers – downstairs is 17 and upstairs is 19 on a well established road where the numbers run all the way up to 70 or 80. Various other houses on the road that have undergone conversion into flats (including the building next door) have the tell tale sign of calling the maisonettes by letter, e.g 21A, 21B, 21C.
My thinking was to instruct a Chartered Surveyor to come take a look at the property and certify on his letterhead what he thinks the property is but I wondered if this is the best way forward or if there’s other ramifications that I need to consider ? Just trying to get a better understanding of my circumstances and opinions would be greatly appreciated.
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