I'm considering buying a new house, but my solicitor informs me that the builder has not filed Tax Returns since 2008 (for year 2007); it is in a rural estate, and only 5 out of 15 houses have been sold (seemingly those 5 buyers were not too worried by the building company's lack of Returns. The estate will have a management Company. My engineer has looked at the house and says it is well-built and in perfect conditon (it was built in 2008
My solicitor says that the building company could be struck of anytime for not making Returns, and if any structural problems arise that there might be no company to claim from. It is under a 5 year structural guarantee, but as we have seen with Homebond and Pyrite, these guarantees can mean nothing.
Also, the management Company is still in Builder's hands, and no Returns have been made for that since 2008 either.
The price of the house has been reduced greatly to sell.
Would I be silly to buy? Thanks for any advice.
My solicitor says that the building company could be struck of anytime for not making Returns, and if any structural problems arise that there might be no company to claim from. It is under a 5 year structural guarantee, but as we have seen with Homebond and Pyrite, these guarantees can mean nothing.
Also, the management Company is still in Builder's hands, and no Returns have been made for that since 2008 either.
The price of the house has been reduced greatly to sell.
Would I be silly to buy? Thanks for any advice.