flooding

[rebecca321]

I would like to buy a flat for sale in chelmsford, which is near the town, and it's very near a river that runs though the town. I've just had my searchs done and they've come back that it subject to exteam flooding. there are about six flats for sale for the same complex and i've just found out that they're selling it for less than what they brought it for. I don't know what to do, i really love it but i'm worryed they all want to get out because of this, the estate agent thinks i'm silly but my mum and dad agree with me. Should i buy it or not? please help!!!!!!!

[coco pops]

Don't buy it. The estate agents job is to sell the flat so ignore there view of you. As there are so many flats for sale in the complex that should be a warning . Suppose you bought the flat how easy do you think it would be to sell ? Also if you need a mortgage i think you will have probs. DO NOT BUY

[rebecca321]

thankyou, i really, really love it but even before my searchs came in i thought it was odd that so many of them were up for sale. i just needed to hear it from someone i don't know. how a nice day xx :-) xx

[Figi]

Definitely don't buy it. You'll have problems getting a mortgage and you would probably find it impossible to insure. It just isn't worth the risk. Keep looking and you will find something else.

[pingping]

not only would you have problems with a mortgage you'd also have problems trying to get buildings or contents insurance.

I know it's hard, but walk away from this one or it'll cost you a lot of money to maintain (think bills for replacing anything if it gets damaged through flooding) and it'll always be worth less than the market value because it would be considered a 'risk' by mortgage lenders and insurers.