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Results: What would you do ?

Negotiatae for more reduction.

15.00% • 3 votes

Walk away!

85.00% • 17 votes

You may not vote on this poll

20 votes in total.

  • FIRST POST
    • KenKen
    • By KenKen 17th Jul 17, 3:31 PM
    • 17Posts
    • 9Thanks
    KenKen
    Mine shafts within 20m
    • #1
    • 17th Jul 17, 3:31 PM
    Mine shafts within 20m 17th Jul 17 at 3:31 PM
    Hello everyone,


    I am in the very stressful buying process as a FTB and I need honest advice from all members!
    I will try to explain the process step by step:


    1- Agreed on 205,000 over purple bricks (PB) for a 3 bed detached in Middleton LS10 / Leeds
    2- Turned out PB inflated the price as valuation came as just 190,000
    3- I have done my homework which I should have done at the beginning as a FTB
    4- Negotiated the down price of 195,000 after couple stressful weeks
    5- My *** solicitor remembered to share the mining report with me after 1 month she got it
    6- The report says that there are not just 1 but 3 mine shafts within 20m of the property
    7- They say that they are all capped back in 1985 (30 years ago) and no current mining issue in the area
    8- The house built in 1995 (20 years ago) and no mining related issues since then
    9- They bought the house from new and this will be the first sale
    10 - My solicitor ordered more detailed Imperative Mine report and will write to Halifax about shafts...


    I know that even 1 mine shaft putting some people off and I have 3 unfortunately even though they have capped as report says. I think this will be still an issue when I try to sell it in future.
    I have already spent 3 stressful months and some fees for this house. This is the main reason I am still considering this house...


    What would you do if you were in my shoes ?


    A- Negotiate down for the valuation price of 190,000 or maybe more!
    B- Wait for the Bank reply.
    C- Walk away!


    Thanks in advance!
Page 1
    • ProDave
    • By ProDave 17th Jul 17, 3:38 PM
    • 203 Posts
    • 265 Thanks
    ProDave
    • #2
    • 17th Jul 17, 3:38 PM
    • #2
    • 17th Jul 17, 3:38 PM
    D- Find out EXACTLY where the min shafts are. Under your back garden or driveway? or next door or further?
    • ariba10
    • By ariba10 17th Jul 17, 3:42 PM
    • 5,141 Posts
    • 5,581 Thanks
    ariba10
    • #3
    • 17th Jul 17, 3:42 PM
    • #3
    • 17th Jul 17, 3:42 PM
    They must be very, very small mineshafts if there are three within twenty meters?
    I used to be indecisive but now I am not sure.
    • KenKen
    • By KenKen 17th Jul 17, 4:03 PM
    • 17 Posts
    • 9 Thanks
    KenKen
    • #4
    • 17th Jul 17, 4:03 PM
    • #4
    • 17th Jul 17, 4:03 PM
    They are in front of the house and driveway:

    4. Mine entries

    Within, or within 20 metres of, the boundary of the property there are 3 mine entries, the
    approximate positions of which are shown on the enquiry boundary plot.


    Our records disclose the following information:

    431428-006. was located and subsequently capped with shaft no. 005 @ 024 by Leeds CC in 1984.
    431428-024. was located and subsequently capped with shaft no. 005 @ 006 by Leeds CC in 1984.
    431428-005. was located and subsequently capped with shaft No. 006 @ 024 by Leeds CC in 1984.





    • LEJC
    • By LEJC 17th Jul 17, 4:14 PM
    • 8,920 Posts
    • 56,111 Thanks
    LEJC
    • #5
    • 17th Jul 17, 4:14 PM
    • #5
    • 17th Jul 17, 4:14 PM
    Dont forget that as part of the mine report and indeed the subsequent report there is usually an indemnity attached to it that is provided by the coal board for use in the event of there ever needing to be a claim....they do indeed cover well should anything happen and in my enquiries regarding opening up's that happen there is usually some evidence of warning prior to it happening.

    I live in an area thats not on the face of it known for coal mining but it's riddled with them!
    The house I currently live in and have done so for a good few decades still standing....I have 4 other properties in the local area all of which there have been no problem with and the house I am currently purchasing has had to have the 2nd detailed report too....admittedly theres only one mine shaft within 20 m but having said that it's within 20m of at least 4 other houses too.

    It's personal preference and up to you how you proceed but it shouldn't really be putting you off...afterall I suspect a lot of your local area was indeed mined and has gone on to have many houses built on it.

    To put things into perspective in the 20 plus years I've lived in my area I have seen evidence of 2 houses where the gardens have opened and thats in a populated area of maybe 100 000 homes....

    ...are there schools near your proposed purchase property...no doubt they are built on or near mine shafts and their entry points...it's just part of life in some areas of the country

    to go back to your original question...wait for the bank reply...it wont be the first time they have given a mortgage on this type of property.

    Chances are if you already live in the area in which you are purchasing ....your on a mining area.

    have a look at this website...it plots the historic mines well
    http://mapapps2.bgs.ac.uk/coalauthority/home.html
    Last edited by LEJC; 17-07-2017 at 4:25 PM.
    frugal October...£45.59 of £40 food shopping spend for the 2 of us!
    Jan £41.60/£40
    Feb £54.58/£40...gave up this month 15/2
    Mar £37.02/£40...lots of help via a gift card and vouchers
    May
    2017 toiletries 112 out 89 in ...£13.96 spend
    • missprice
    • By missprice 17th Jul 17, 4:21 PM
    • 3,175 Posts
    • 90,281 Thanks
    missprice
    • #6
    • 17th Jul 17, 4:21 PM
    • #6
    • 17th Jul 17, 4:21 PM
    The whole of Middleton and surround are riddled with mine shafts. If you wiki it, there are something like 750 known and countless unknown.
    It's that kind of old mining area, you won't get any houses in the direct area without proximity to one or more. Back of my house there is one, and two more further up the street.

    Yet it's not been on the news about any sink holes or houses disappearing. Nothing to worry about
    84 mortgage payments to go.

    Zero wins 2016 😥
    • KenKen
    • By KenKen 17th Jul 17, 4:28 PM
    • 17 Posts
    • 9 Thanks
    KenKen
    • #7
    • 17th Jul 17, 4:28 PM
    • #7
    • 17th Jul 17, 4:28 PM
    I have checked the Coal authority indemnity insurance attached the report and it says that only max of 50,000 covered!
    • LEJC
    • By LEJC 17th Jul 17, 4:38 PM
    • 8,920 Posts
    • 56,111 Thanks
    LEJC
    • #8
    • 17th Jul 17, 4:38 PM
    • #8
    • 17th Jul 17, 4:38 PM
    I have checked the Coal authority indemnity insurance attached the report and it says that only max of 50,000 covered!
    Originally posted by KenKen
    where exactly are the mine entry points....if anything were to open it would be around them...so maybe your garden for example which wouldn't presumably cost £50000 to rectify.

    Remember that those are rebuild costs which are also probably lower than the valuation/purchase price of your house.

    Whist I'm not saying you should be complacent about this ...I wonder if you haven't really looked into it and actually seen how many houses this potential type of thing has an effect on.

    Pull out of this purchase and if you buy in the same area you'll likely encounter it as part of the searches there too.
    frugal October...£45.59 of £40 food shopping spend for the 2 of us!
    Jan £41.60/£40
    Feb £54.58/£40...gave up this month 15/2
    Mar £37.02/£40...lots of help via a gift card and vouchers
    May
    2017 toiletries 112 out 89 in ...£13.96 spend
    • armchaireconomist
    • By armchaireconomist 17th Jul 17, 4:47 PM
    • 150 Posts
    • 158 Thanks
    armchaireconomist
    • #9
    • 17th Jul 17, 4:47 PM
    • #9
    • 17th Jul 17, 4:47 PM
    I live in a former colliery house with the main pit head was behind my back garden.


    House is over 100 years old and still standing...


    If I were the seller and you tried to negotiate more money off because of some capped mine shafts that are causing no harm after you've already saved £10k due to one person's opinion i'd tell you where to go
    • LEJC
    • By LEJC 17th Jul 17, 4:49 PM
    • 8,920 Posts
    • 56,111 Thanks
    LEJC
    Just to clarify something regarding the poll.....

    You have 2 options listed....price reduction or walk away...where is the option for me to vote that I would carry on with the purchase after consideration.

    or indeed...you must have a figure in mind that you think the vendor should offer you as a price reduction....whats that figure?

    Presumably there is a price point that you would buy this house...I'm just curious to find out what that is....

    In a mining area....dont expect that figure to be a significant price reduction if at all!
    frugal October...£45.59 of £40 food shopping spend for the 2 of us!
    Jan £41.60/£40
    Feb £54.58/£40...gave up this month 15/2
    Mar £37.02/£40...lots of help via a gift card and vouchers
    May
    2017 toiletries 112 out 89 in ...£13.96 spend
    • missprice
    • By missprice 17th Jul 17, 4:54 PM
    • 3,175 Posts
    • 90,281 Thanks
    missprice
    http://mapapps2.bgs.ac.uk/coalauthority/home.html

    Check out the interactive map here, if it's a deal breaker, don't buy anywhere in Leeds or surround. Down to Nottingham
    84 mortgage payments to go.

    Zero wins 2016 😥
    • KenKen
    • By KenKen 17th Jul 17, 4:55 PM
    • 17 Posts
    • 9 Thanks
    KenKen
    Even though the valuation expert did not know that there are 3 mine shafts within 20m, he valued at as 190,000. He just sad that same type of houses going between 175-190. He also noted that there are mines in the area , so it requires mining search and his valuation might change regarding the report.


    I have agreed to pay 5,000 premium over the valuation price before I knew about the 3 mine shafts, thanks to my lazy solicitor. If I knew that I would never offer any premium over the valuation.
    • LEJC
    • By LEJC 17th Jul 17, 4:59 PM
    • 8,920 Posts
    • 56,111 Thanks
    LEJC


    I have agreed to pay 5,000 premium over the valuation price before I knew about the 3 mine shafts, thanks to my lazy solicitor. If I knew that I would never offer any premium over the valuation.
    Originally posted by KenKen
    Lazy solicitor ...complacent buyer,,,,the information is out and about there to find out about mine shafts before you make an offer......

    I would suggest that it's you who could have checked the interactive map prior to making your offer ....but you now live and learn
    frugal October...£45.59 of £40 food shopping spend for the 2 of us!
    Jan £41.60/£40
    Feb £54.58/£40...gave up this month 15/2
    Mar £37.02/£40...lots of help via a gift card and vouchers
    May
    2017 toiletries 112 out 89 in ...£13.96 spend
    • KenKen
    • By KenKen 17th Jul 17, 5:09 PM
    • 17 Posts
    • 9 Thanks
    KenKen
    Dear LEJC,


    As a FTB I have no idea about mine shafts as I am not buying a property everyday.
    I have checked the interactive map long time ago. Unfortunately, it does not show how far the mine entries. That's why people do mining search. Even it is not enough so banks require Imperative report.


    I had your answers, so thank you for the replies!
    • KenKen
    • By KenKen 17th Jul 17, 5:15 PM
    • 17 Posts
    • 9 Thanks
    KenKen
    Please, I do NOT need replies from the landlords who have property near the mine shafts and trying to convince me or prospective buyers that everything is fine!


    I need replies from people who had same experience, prospective buyers to see how they would react and experienced people on the subject from selling, buying or landing purposes.


    I do not want to argue with anyone here.
    I just want simple and honest views.


    Thank you!
    • missprice
    • By missprice 17th Jul 17, 5:42 PM
    • 3,175 Posts
    • 90,281 Thanks
    missprice
    Please, I do NOT need replies from the landlords who have property near the mine shafts and trying to convince me or prospective buyers that everything is fine!


    I need replies from people who had same experience, prospective buyers to see how they would react and experienced people on the subject from selling, buying or landing purposes.


    I do not want to argue with anyone here.
    I just want simple and honest views.


    Thank you!
    Originally posted by KenKen
    Ummm I ain't no landlord, I live in a house where , as stated in a previous post, I have a mine shaft out the back of me and two others on same street. It's my house, except for the mortgage,

    So if you think a little bit about that, my whole street is affected by mines, yet they are bought and sold easily. So are the next two streets, ditto.
    Plus the whole city is rife with mines. Yet people buy and sell all the time
    Last edited by missprice; 17-07-2017 at 6:14 PM.
    84 mortgage payments to go.

    Zero wins 2016 😥
    • emlet
    • By emlet 17th Jul 17, 7:23 PM
    • 28 Posts
    • 11 Thanks
    emlet
    Hi there

    I also live in a mining area. The report wouldn't bother me as it shows they have been treated properly.

    As others have said, if your in a mining area it's to be expected! I have 1 in the 20m of my house and 2 in the next one I'm buying. Hasn't affected my decision
    • goodwithsaving
    • By goodwithsaving 17th Jul 17, 9:14 PM
    • 551 Posts
    • 805 Thanks
    goodwithsaving
    Please, I do NOT need replies from the landlords who have property near the mine shafts and trying to convince me or prospective buyers that everything is fine!


    I need replies from people who had same experience, prospective buyers to see how they would react and experienced people on the subject from selling, buying or landing purposes.


    I do not want to argue with anyone here.
    I just want simple and honest views.


    Thank you!
    Originally posted by KenKen
    Their reaction is that it wouldn't affect their decisions, what more do you want? I am moving to somewhere riddled with them, I'm fine about it. I like the area enough.

    If you're getting worked up about it, speak to a professional local to the area. Speak to neighbours etc.
    Every time you borrow money, you’re robbing your future self. –Nathan W. Morris
    • michael1234
    • By michael1234 17th Jul 17, 10:01 PM
    • 123 Posts
    • 50 Thanks
    michael1234
    I know nothing about mine shafts but is this the lender's valuation that you have had sight of? If so I would be bothered.
    • tori.k
    • By tori.k 17th Jul 17, 10:43 PM
    • 2,787 Posts
    • 6,137 Thanks
    tori.k
    We are another that lives in a mine area, copper and tin not coal, building has stood since early 1900 without issue and I put money I'd be in the ground well before the house ever does, there has been a few issues with shafts opening up, was a bit of a worry when a 20ft deep hole turned up one afternoon on the A30 westbound near Scorrier in 2015, but you have to keep things in perspective for every mine that is on record there is likely two more that isn't, we've been mining since the bronze age, you know the house is safe as it would be a cash buy only if there was any doubt.
    Debit to Credit (stage 1) 3652.34 completed 15/10/16
    Debit to Credit (stage 2) 6299.09 completed 25/06/17
    Last Castle 150,000/ 24000
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