Joiner
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Zambezi advised caution and he's right, but in view of the extensive work that's already been done, on first consideration I can't see why it couldn't be done because we're only talking a brick's thickness here.
BUT, on second consideration that sort of gut reaction (especially at several removes from the situation) signals the need for caution, to rein-in the enthusiasm a bit and start to consider the details.
[Cwatters, what are the chances that the plans for the previous work will still be available from the LA?]
My sensible-hat approach would be to advise getting the opinion of a surveyor. If the property is such a good buy (and you're obviously attracted to it) then that should be a good investment, protecting both your bank balance post-purchase and your peace of mind whilst negotiating the buy.
In practical terms, lowering the floor is fairly straightforward and well within the capabilities of any competent builder, in fact I'd be inclined to get a good builder to have a look at the situation, they're less prone to knee-jerk reactions than surveyors.
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