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Property development / renovation legal considerations

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  • Property development / renovation legal considerations

    I am considering buying a property to renovate / develop. Having been in the rental market for many years I am looking to find a new challenge.

    I have taken accounting advice on how best to go about this but now have a few concerns regarding personal liability for works that are done on the property prior to selling. I will be doing this via a ltd company I will set up.

    In terms of insurance for the property and any contractors working in it I understand I will need liability insurance.

    When I comes to electrical, structural, gas works I will be employing people getting the required building regs / gas / electrical paper work etc

    I will how ever be fitting my own bathrooms and kitchens, tiling, replacing doors, decorating etc as I have done in my own primary residence when I have moved in and sold a couple of years later. I have done this many times.

    As I will be a renovation business rather than a home owner working on their own house Which they later sell i am concerned that my liability for doing such things in the above paragraph will be increased.

    Will it?

    Basically...

    1) Does a private property seller owe any guarantees etc for the bathrooms and kitchens (or any other works done) or is it a case of buyer beware and get a survey etc and they are buying house "as is"

    2) Does a property renovation business owe any enhanced guarantees to a seller by virtue of them being a business and the buyer being a private individual.

    Are there any website / sources of useful information on this?

    I do intend to take advice from my solicitor but wanted to do my own preliminary investigations.


    Many thanks
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