What price to expect with a house with subsidence

Fliss_M

Ok, now am sure some of you will check and no I am not in a position to buy. But I like to keep an eye on where I want to live and the prices, whats for sale, just in case my boat come in

Well back in jan me and dh went to look at a house, semi detatched with subsidence on the back corner. It had never been renovated since build (no central heating nothing) and was bought for 117000 in the end (in this area the semi's go for 170k ish) Now we looked at the structural engineer report and they said ether steel gurders to strengthen or underpinning so I figured it would be a while before the house was up for sale again

But its not, its up now. I've seen the pics and I must say am so pleased with the job, they kept all the orginial fire places in the bedrooms etc (I was saying to dh I hope whoever gets it didnt just rip them out like they do) but they want 185k! :eek: They have done a nice job but I was expecting 150 you know?

so it got me wondering, how much reduction should you expect from the guide price of a normal house for one with subsidance? And once the engineers report said there was subsistance does it forever effect the price? (even if they fix it another way then underpinning) or are these people in cloude coo coo?

Thanks peeps

maninthestreet

The problem will be getting insurance for the house - has the subsidence now been rectified??

Fliss_M

I dont know. I never saw any scaffolding up which I would have expected. And I would have expected it to take longer the 5 months to get the house to sale-able standard.

I know insurance would be difficult but I always figured that would in part be made up for in the lower cost of the house? Is that incorrect?

I know people can put their house up for sale at what ever price they like, but when it comes to realistic sale price I thought it would be lower.

lincroft1710

Your question cannot be answered!!!!

The price will depend on how bad the subsidence is. I have come across several houses where the subsidence was so bad the houses had to be demolished! So the value of a house in those circumstances could be even less than the plot value.