| Comment | We're going through something similar so my advice/observation based on experience and my own research is this:
- It's not clear from your post whether the sum is just an estimate or a formal quote. Normally the company who does the inspection will produce a building report. This report will then be used as the basis for formal quotes from at least 3 competing bidders i.e. a tendering process. This should be arranged by your factor.
- Now that you are aware of the state of the building, and that it has been professionally assessed as needing major work, you must inform any potential buyer if selling. This has been law since 2017. Failure to do so is fraud and the buyer can sue you. Doesn't mean you can't sell, but the price/bids will be affected.
- If the building is in a very poor state and nothing is done, it will eventually become unsellable.
- We are in a listed building and have been quoted approx £250k for a full building renovation including new roof. Nothing structural though.
- I have been advised that the council grant scheme requires unanimous approval from all owners. Some of the other replies suggest this is not required. Either their advice is out of date, or I have been mis-informed by the council. |
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