Help!! Lost two house sales due to Subsidence

cazbar7

Help and advice much needed please .... we have had our house on the market for 12 weeks and during this time we have managed to sell it twice (good news you would think). The first buyer got cold feet a week before the move date and the second pulled out on the day of the move. The history behind this that our home has had 'minor' subsidence, hairline cracks appeared, due to vegetation in the garden. We had the work repaired by the insurance company and have the necessary papework to confirm the repairs are ok. No new cracks have appeared and it has now been 18 months since the repairs.

Does anyone know how long we legally have to declare our subsidence? Is it forever? Has anyone managed to sell a house with subsidence?

Reading the different forums subsidence seems to be happening a lot but searching the web does not seem to be much legal help.

Sorry to go on as you can imagine I'm rather fed-up with this all and with the prospect of never being able to move to a new home.

cattie

I hope this brings you some hope as I bought a house that had had remedial works carried out 2yrs previously due to tree roots from a tree situated on the pavement out front. I live on the edges of London, so clay soil & subsidence are risks that most owners in London & surrounds are aware of.

I bought the house knowing that it may be harder for me to sell should I ever decide I wish to move, but with the knowledge that a few of the houses along my road have suffered the same problem but still manage to sell as it's a conservation area & very popular & with a style of house/cottage unique to this part of London.

Also, I reasoned that a house that had had remedial works should be structurally sound having had the works done & being signed off & given a certicate of adequacy.

For most people the main concern is can the insurance policy continue on the house. This was my main one & I was pleasantly surprised to find that my premiums only increased by about £2 per month (my previous house was insured with the same company as the owners had this house insured with)

besonders1

Has anyone managed to sell a house with subsidence?

Yes with polyfilla - or attractive hanging baskets if its the outside to "disguise" the cracks for the surveyor.

cazbar7

Thanks Cattie, we have spoken to our insurer and they will continue the cover to a new buyer. You don't know by any chance how long we have to keep declaring this subsidence for do you?

Thanks again

cazbar7

Yep, already used the polyfilla, I think our problem is when it comes to completing the selling questionnaires the bit about has your house ever suffered from subsidence, tricky to say no when you have a papertrail with your insurers.

G_M

got cold feet a week before the move date and the second pulled out on the day of the move.

I assume you mean before Excahnge of Contracts otherwise you could sue both buyers for breach of contract! Make a bundle!

cazbar7

Unfortunately yes before exchange of contracts, all signed and ready to exchange, house contents boxed up, kids excited and then all over in a phone call .....

cattie

cazbar7 wrote: »

Thanks Cattie, we have spoken to our insurer and they will continue the cover to a new buyer. You don't know by any chance how long we have to keep declaring this subsidence for do you?

Thanks again

No, sorry I've no idea but have often wondered if there is a time limit myself.

If you've had 2 interested parties in your house, then it must be a good house & pitched at about the right price. Fingers crossed that you'll soon find a buyer who will be confident enough to see the sale through.

benjo

How frustrating, in reality a property that has had subsidence 'cured' is perhaps a better bet than one that has never had subsidence diagnosed, but I think the issue is getting buildings/contents insurance on such a property. I lived in one rented bungalow that had been underpinned due to 'movement' and wasnt able to get contents insurance for it (I doubt the LL had buildings insurance on it either), altough insurance can be obtained, jumping through hoops can put people off when there are so many properties to choose from.

As to time limits for admitting that subsidence has occured, Im not an expert but I think the clue is in the question on the forms they send you which ask 'has the property EVER been.....' (if I remember the wording correctly) rather than 'has the property suffered..... in the last ?? years'.

If your current insurer is happy to continue to insure the property, perhaps you could get a letter from them, then if anyone puts in an offer you have some supporting documentation that might calm the buyers nerves - it might help.

Goodluck in selling, keep us informed.

Scabs

I sold a house that had previously had subsidence, it is a fairly common problem with many older houses.

When I had the house survey done the surveyor stated that the property had subsidence before but had now settled.

I think the buyers may fear the problem may get worse as its a fairly new problem unlike the 100 year old house I sold. Sorry not much help but good luck

snowjoe

I am currently purchasing a house which had subsided and underpinned, 15 years ago. We werent told by the agent when viewing but we didnt actually asked. It came up on the land search our solicitor did.

Myself and my OH did deliberate for a long time about whether to proceed because there is a lot of negativity around subsidence. We managed to get insurance which is a little more costly than it should be but then we got the property for a very good price.

IMO 18 months isnt a particularly long time to judge whether the works have solved the problem. You may simply have to bide your time. Other things to consider are to give it a unique selling point, something that no other houses nearby have. Or price it accordingly. Our reassurance came after having structural engineers (the same company who oversaw the underpinning) round to inspect the property. It may be worth having a similar report done and included in the HIP to reassure potential buyers.