Would you offer on this property?

[Dandelion24]

FTB here looking for a place to live in a good location with reasonable service charge. I realise how unattainable a house is for me with my budget so looking at flats.

Went to view this but it’s a little run down.
https://www.rightmove.co.uk/properties/144252569#/?channel=RES_BUY

The roof is leaking into the stairs, previous tenant left it in a bad way, punched holes in the walls, the floors creak all over the flat, carpet stained, some part of the walls were damp, everything is outdated so needs complete stripping.

I do like the flat in the sense that it has so much potential but just thinking of the cost of doing it all up

Would you offer on this? And if yes what do you think is reasonable to offer?

From the pictures it looks worth the asking price, in fact quite a bargain.

From what you've said I would offer £205 and make sure you get the full survey.

It’s leasehold so why hadn’t roof been fixed by the freeeholder? Why not live in a less expensive area of Birmingham? I would worry that the agent/mgt co was poor. Ongoing problems would be my guess. You are hardly a pauper with a budget for a 3 bed!

Yes I’d find out more about the free holder.
I wouldn’t risk it myself - it looks lovely though.

How long is left on the lease?

The roof (and damp) would concern me. Why hasn't the freeholder fixed this, and what is the cost impact on the service charge?

Have you been to the less expensive parts of Birmingham? Some of them are dire! There is a reason why the nicer areas are more expensive and this looks a nice flat but as others say why hasn’t the roof been fixed?

Nice flat and good length left on the lease. Service charge is high so what are the agents doing for their money, as building doesn't look like it would have a lift or anything that would be a big job to maintain nor is there any mention of a communal garden.

Find out who the managing agent is and do your research on them as it can be very difficult living in a leasehold property with an unscrupulous managing agent.

My best friend used to live on this room and actually it looks near to where she was but she was on the top,
Great transport links as the tram has been extended. Morrisons down the road,

However I wouldn't pay that price

Are you looking specifically for a flat? You can buy houses for that price in Birmingham

Apparently the freeholder left the building management responsibilities to one of the landlords but he sold or moved away and there hasn’t been anyone managing it since then.

But good question though @HundredMilesAnHour l should ask how this will impact the service charge going forward.

There’s 104 years left on the lease.

As to the flat they had a non paying tenant in it and finally got a court order to evict them recently so I imagine that’s why nothing has been done to it

@rosesandtulips4me yeah no lift

@MooFroo no actually. Will very much prefer a house just there’s nothing great with my budget except I were to move out of Birmingham

@Dandelion24 I would be very concerned at the freeholder's lack of action re the roof and appointing a proxy to manage the building (since they don't seem interested in doing it). This could easily become quite a headache if you buy the flat. The current leaseholder should be escalating the lack of repairs by the freeholder - have they done this? It is (most likely - depending on the exact terms of the lease) the responsibility of the freeholder. They don't get to just sit on their arse and do nothing. Read this:

https://www.lease-advice.org/faq/there-is-damage-to-our-building-that-needs-to-be-repaired-what-can-i-do-to-get-it-fixed/

What makes you think the roof is going to get fixed now?

I would give that a wide berth due to what you have said about the freehold etc- sounds very dodgy. Quite apart from that, the age of the building and all those ornate features and chimneys are going to be potentially a pain and very expensive to repair. I imagine your gas and electricity bills would be high in those large rooms too. It's a no from me.

@Zippedydoodahday I have no confidence it will get fixed tbh and it’s part of my worries
I just like the space and the fact it’s close to broad street

Worse case you could potentially just get the roof sorted yourself and bear the cost, and factor that into the offer in case it comes to that? Far from ideal though.

I don’t have the cash to do the roof & flat renovation.
The more I’m typing the more I’m starting to realise this flat just might not be the one for me 😩😭

The roof will need to be fixed as it’s the top flat most affected by it

If there's no management/freeholder in place, it may not be mortgageable. Knock on neighbours' doors and ask what the situation is. There are mechanisms in place for leaseholders to take over the management of a building collectively.