Housing Estate Not Taken In Charge

Hi,

We are in the process of selling our current home but the buyer's bank has questions/concerns regarding the estate not yet been taken in charge by the council. The estate is over 20 years old, there are no shared buildings, just a green which is maintained by the residents, no issues with roads, water, wastewater etc. The developer's company is now gone.

Plenty of houses have sold in the estate over the years, including after the developer's company closed. Does anyone have any experience with this type of situation? What reassurance could the buyer's bank need?

Thanks

We bought our current house and it wasnt taken in charge by Fingal Coco. Indeed there was plenty of sales after ours until Fingal coco took over after a period of maybe 16 years.Never heard it being an issue before.

@Persia Thanks for your reply. It seems that some banks have concerns about it and some don't, good to hear that you didn't. I'm not sure what kind of reassurances a bank could need as after all questions are answered, the status of the estate (still not taken in charge) will remain the same.?

I bought our house about 5 years ago. Older 80s estate, and this never came up with our purchase. A neighbours house was in the process of selling a few months ago, and for some reason it did come up. We (the residents) looked into things and an older person thankfully had old correspondence with the council and it turned out there was a deal done to have it taken in charge but it got lost in new records or something! It means very little, as same as the OP, grass is left to residents, all detached houses.
If you contact the council, they should tell you what you need to do to get it taken in charge. For us (before finding out it already was), it just meant we'd have to get the majority of homeowners signatures and submit to the council to get them to look at/take in charge at some point.

CoastRunner said:

The estate is over 20 years old, there are no shared buildings, just a green which is maintained by the residents, no issues with roads, water, wastewater etc

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So who is responsible if there was an issue with, for example, a damaged road

I can see the Banks POV here, it does increase the risk slightly. Is there a residents association, any sink fund in place that would be used to pay for an issue to be resovled?

Worth having a conversation with a local councillor as well

Peanuts20 said:

Worth having a conversation with a local councillor as well

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In the context of selling the property all the seller can realistically do it to answer the questions honestly. What the buyer or their lender might do on foot of the answers it's outside the seller's control.

Thanks for your replies, looks like the bank are now happy to proceed