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I'm in a similar situation right now. Just had a survey come back saying that a chimney breast and fireplace appear to have been removed and the Chimney Stack is left there. It's shared between the neighbour too. I asked the EA to speak to the Vendor to check if Building Regs, Party Wall Agreement etc. had been done and the Vendor came back and said that when he bought the property a few years ago, he was told nothing about it and received no Certificates whatsoever! He claims to be clueless. What people don't understand is that the Indemnity Insurance is only valid if the Council want to come after you (within 10 years) for not having proper Building Regulations - it's nothing to do with the structure potentially failing and bringing the house down with it and potentially killing someone! The number of people who would be ok with purchasing a property like this - I wouldn't touch it unless the Vendor paid for a Structural Engineer and got it all cleared. At the very least, it's going to affect the resale value.No PW Agreement either then?
Competent buyer's surveyors would be advising their client to require a hefty discount for the risk, along with specific structural reports based on opening up the structure to check things