advise on whether to buy a partially finished house

Hi,
i have come across a house (standard 3 bed detached bungalow on 0.6 of an acre in the countryside in the south west of ireland) that is partially built, from what i can glean from photos it is watertight (roofed, windows etc and judging from the scaffold in the photo was stopped just before plastering). it’s priced at 99000 which was confirmed following our initial email to selling agent. however! the ad was last updated approx 2 years ago so i think the value should be reduced. to get it finished to a builders finish the price would be 145000.
does anyone have any advice re how we should proceed with the agent if we like the property when we see it?
any advise would be great,
cass

Have an engineer with you when you view.

daft.ie/searchsale.daft?id=382775

It looks pretty weatherproof alright. I think I’d get quotes from other builders before commiting to the 145k price.

As catbear says, you are wasting your time if you go without an engineer.

This topic has come up a few times & so far the consensus has been that you’re buying a pig in a poke, & need to be incredibly careful !

Weather tight is good; but there are other considerable potential issues. For example:

  • Planning isn’t transferable; will the purchaser have to apply for permission to complete; & will they get it !

  • Speaking of planning, are all the works externally completed, or will the buyer have to worry about getting permission for a septic plant under the new tougher regulations ?

  • Does the work to date comply with the original planning conditions, including occupancy ?

  • Is the work to date certified by engineers & is the documentation available ? If it isn’t there isn’t a lender in the country that will give you a mortgage.

  • If you buy it & finish it, will you ever be able to insure it, with the current documentation ?

  • The main question to ask yourself, is why the house wasn’t completed. This to me would be a grave concern, as 0.6 acres with an almost completed house makes zero sense ! :nin

hi,
thanks for all that info - very interesting and points that are worth serious consideration!
cass

I just spat out my tea when I looked at the location on the map… situated in a place called… “Knockdown” :open_mouth: :open_mouth:
I’m not one for omens or superstition though!

Cant agree more with what Fishfoodie said. Bring an engineer with you and get him to take his time looking at it. However, 145k seems to be quite a lot to pump into that house to bring it to a builders finish. I would have thought 145 could finish that house with the best of equipment and furniture.

You’re taking the phrase “property porn” too literally :-GC

And that’s just been fixed :wink: I guess the EA or owner is reading this thread :slight_smile:

Price also corrected to 99k.

Just to clarify following fishfoodie’s post, a planning permission is “transferable” - it runs with the land so you can still rely on it even if you weren’t the original applicant for the permission. However you need to make sure that it has not expired. A permission generally has a life of 5 years from the date of issue, within which works must be completed. If the life has not yet expired you can make an application for an extension, but if the 5 years are up already, you have a problem.

  • Is the work to date certified by engineers & is the documentation available ? If it isn’t there isn’t a lender in the country that will give you a mortgage.

  • If you buy it & finish it, will you ever be able to insure it, with the current documentation ?

What documentation would a partly finished or fully finished house have?

From my perspective most one-off PPs are not transferable, as for the overwhelming number of them have either residency clauses that state that the applicant must live in the house for 5 years; or the PP was only granted because the applicant was in the ‘local needs’ bracket.

These days with CC Planning offices full of jobs-worths picking over every application I would say my interpretation is closer to the reality of the situation.

What is the broadband like in that exact area? I mean, we’d like to keep in contact with you!

I also refer you to the wonderful ONQ’s advice on AAM website:

askaboutmoney.com/showthread.php?t=142900

+1

Excellent link doubleglaze !! 8DD

Down from €245k when first listed four years ago.
irishpropertywatch.com/viewS … &Site=daft