Subsidence- advice please!

imfedup

sorry meant to add, that not all propeties need underpinning, in fact these are very few and far between. Most of the time as long as you take away the cause of the damage i.e. drain repairs, this will enable the property to stabilise thus the need for underpinning becomes un-necessary.

Not all properties need monitoring, again it depends on the cause of the damage. If a loss adjuster is instructed they will tell the property owner the time it should take, therefore, once the Insurance claim has been submitted get the sister to tell you the intended forcast - ask for a copy of the letter that is sent with the timescale on (but then add on 3 months to the date of finalisation as problems may occur).

ILW

dottiepeas wrote: »

Hi Typeractive! Thanks for your response!
Yes, the house is vacant which will speed things up abit...though not sure how long it will take for the vendor's side to organise the insurance and do the repair work! Since the vendor has passed away, and it's been looked after by the sister!

Will defo give the bank a ring to let them know the vendor's insurance may accept liability to repair it, and see what the process would be then.

The valuation said it would be worth the £162k that we agreed on. (once the work has been carried out- currently valued at £100k)...so the valuation is the same as the offer price.

But the EA said that we are not expected to pay £162k now, so we have to re-negotiate the price with the vendor. (For time and inconvenience etc..) so I think we are more likely to pay £140k/£150k instead.

I'm just really worried about the time factor, as our mortgage offer runs out end of Oct, and I reallly hope they can get it repaired by then!!

Sorry, but only a complete idiot would pay £140k for a house that is valued at £100k. Or am I missing something here.