Would you buy a property with (fixed) subsidence

Would you buy a property with (fixed) subsidence

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The Moose

Original Poster:

22,846 posts

209 months

Monday 3rd August 2015
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As my other thread ( here ) isn't generating any chat, I thought I'd take a slightly different tack.

Would you buy a property with (fixed) subsidence issues?

russ_a

4,578 posts

211 months

Monday 3rd August 2015
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My last two houses had both suffered from subsidence. Got a full structural engineers report and was happy to proceed with both.

The sale of the last place went without a hitch, we were open with the buyer from the start about the houses history.

As most houses in the area have claimed (local coal mining) the local solicitors and estate agents expect it and put our buyers mind at ease (as they did us).




ATG

20,570 posts

272 months

Monday 3rd August 2015
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Can't see the problem if it has been fixed. Even if it hadn't been fixed, it wouldn't put me off so long as the price reflected the cost of remedial work.

V8RX7

26,847 posts

263 months

Tuesday 4th August 2015
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It would have to be something special.

tomw2000

2,508 posts

195 months

Wednesday 5th August 2015
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My first home, current place and the one the wife and I are renovating all have subsidence to a degree.

All period (200+yr old) properties though. So as long as they're not actually collapsing I don't mind smile

Countdown

39,854 posts

196 months

Wednesday 5th August 2015
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I wouldn't.

Unless it was very cheap the hassle about higher insurance costs and the worry about resale would put me off.

was8v

1,937 posts

195 months

Wednesday 5th August 2015
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Check the cost of insurance first, insurers take a binary view - and take no notice of structural reports. If there is history of a subsidence payout then it will cost extra.

It might only be a few quid extra a year, but over 20 years thats might be a lot of money to you.

Also bear in mind a lot of people will walk away when you come to sell the house.

Worth asking up front about issues like this if the area is prone - you don't want to get to the expensive searches stage and find this out.

TA14

12,722 posts

258 months

Wednesday 5th August 2015
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The Moose said:
As my other thread ( here ) isn't generating any chat,
not least of all because you didn't contribute after the opening post.

The Moose said:
Would you buy a property with (fixed) subsidence issues?
In the real world how do you know whether the issue has been fixed? It's the same reason cat D cars sell at a discount - there's uncertainty about the quality of the repair. That's why there's the insurance issue - properties that have had remedial work done are more likely to claim than those that have not had remedial work done.

To answer your latest question, as many above have said the answer is maybe. If it was one of a few in a road and none of the others had suffered a defect and there was no discount then no but if it were a unique property, perhaps in a school catchment area/other desirable area, suitably priced and without real competition then probably yes.

fatboy b

9,493 posts

216 months

Wednesday 5th August 2015
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The problem with "subsidence" is that's it covers many causes. The property can be sound but a silly screw up by the builder can render the whole property "subsided".

In our case, the single pillar between the two garage doors started sinking. After a subsidence claim, the whole property was inpected and found ok, other than the builders waste found directly beneath the pillar foundations that had gradually corroded/collapsed (wheelbarrow) causing the pillar to sink. Once corrected, all ok, but now the whole property has a history of subsidence.

blade7

11,311 posts

216 months

Wednesday 5th August 2015
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fatboy b said:
The problem with "subsidence" is that's it covers many causes. The property can be sound but a silly screw up by the builder can render the whole property "subsided".

In our case, the single pillar between the two garage doors started sinking. After a subsidence claim, the whole property was inpected and found ok, other than the builders waste found directly beneath the pillar foundations that had gradually corroded/collapsed (wheelbarrow) causing the pillar to sink. Once corrected, all ok, but now the whole property has a history of subsidence.
What effect did it have on your buildings insurance premiums and are you tied to the insurance company that paid out now ?

Swervin_Mervin

4,445 posts

238 months

Thursday 6th August 2015
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Regarding insurance - Try Home Protect. They actually take details into account, make a reasoned judgement and will give you a very reasonable quote. I think they must be human!

Edited by Swervin_Mervin on Thursday 6th August 12:44

Rich135

769 posts

242 months

Thursday 6th August 2015
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fatboy b said:
The problem with "subsidence" is that's it covers many causes. The property can be sound but a silly screw up by the builder can render the whole property "subsided".

In our case, the single pillar between the two garage doors started sinking. After a subsidence claim, the whole property was inpected and found ok, other than the builders waste found directly beneath the pillar foundations that had gradually corroded/collapsed (wheelbarrow) causing the pillar to sink. Once corrected, all ok, but now the whole property has a history of subsidence.
We has similar with a poorly built extention - the builder just hadn't put any footings under the internal walls. All fixed by digging under and placing proper footings in, but it now means the word 'subsidence' is mentioned, when really it was just a fix of poor building! The house insurance was a little higher, but not excessive.

fatboy b

9,493 posts

216 months

Thursday 6th August 2015
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blade7 said:
fatboy b said:
The problem with "subsidence" is that's it covers many causes. The property can be sound but a silly screw up by the builder can render the whole property "subsided".

In our case, the single pillar between the two garage doors started sinking. After a subsidence claim, the whole property was inpected and found ok, other than the builders waste found directly beneath the pillar foundations that had gradually corroded/collapsed (wheelbarrow) causing the pillar to sink. Once corrected, all ok, but now the whole property has a history of subsidence.
What effect did it have on your buildings insurance premiums and are you tied to the insurance company that paid out now ?
The current insurance co. Upped it by about £1.50, so pretty good really. Other companies are about double the annual premium.

blade7

11,311 posts

216 months

Thursday 6th August 2015
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fatboy b said:
The current insurance co. Upped it by about £1.50, so pretty good really. Other companies are about double the annual premium.
Sounds very fair though you are sort of tied to them now. I asked an EA how much history of subsidence chipped the value of a property and they thought up to 20%.