Survey done...dreaded words.."poss minor subsidence"

poledancer49

Morning all,

Buying a Victorian property.......had a structural survey done and the above was picked up on the rear right hand corner of the property. Suggests it could be caused by the drain pipe alongside door going into the ground and recommends CCTV investigation. Sellers and esate agent being really helpful and said they will pay for survery..get two estimates for work recommended and knock charge off the price of the house. Think this will be ok..any one got any advice please?

time2deal

My advice is don't contact your insurance until you HAVE to. They never forget even a query about subsidence. If its the same price as your excess consider fixing it yourself. History of subsidence (even if it turns out to be minor and fixable) can be a problem for a long time.

DaftyDuck

No reason not to go ahead at the moment, if they are paying. When results are in, then think carefully.

One point, ensure independent and professional survey, not the owner's cousin..

poledancer49

I'm not going through my insurance at all. The owners are going to pay for CCTV an the get quotes. Will check all paperwork carefully. Kinda worried about possible continual problems. If it is an issue with the drains I suppose that can be fixed and subsidence not an issue?

trulys

CCTV survey of drains isn't too costly (about £90 from my experience). Presumably it'll be good news if it is the drains - at least then you'll know what's caused it and how to fix it!! Hopefully the vendor's insurance will cover them for drainage repairs - they're not cheap!

If there is ever a hint of a subsidence claim its wise to try to take an assignment of the vendor's existing insurance policy so that the insurers cannot evade liability on a pre-existing condition.

Tancred

poledancer49 wrote: »

Morning all,

Buying a Victorian property.......had a structural survey done and the above was picked up on the rear right hand corner of the property. Suggests it could be caused by the drain pipe alongside door going into the ground and recommends CCTV investigation. Sellers and esate agent being really helpful and said they will pay for survery..get two estimates for work recommended and knock charge off the price of the house. Think this will be ok..any one got any advice please?

How significant is the apparent subsidence? Why would the drain pipe into the ground be an issue? Is this because of a suspected leak going into the foundations?
It's not unusual for old properties to have this issue and should be reported to the insurance company for remedial action.

poledancer49

Thank you all. What would happen if the sellers do not want to go through their insurance and offer to pay themselves?? We couldn't see anything on visits...it's an old property so there are cracks etc.

jellie

If this goes through the vendor's insurance company and it's logged as subsidence, their insurers will be obliged to continue to insure the property. You would have no influence on whether any claim was registered as subsidence or not. But if it was done as subsidence, you would find it almost impossible to get insurance through another company.

Consider if you want to take the risk of being tied into the same insurance company for years. Perhaps get a reduction in the purchase price based on quotes to fix the problem, and then get it done without involving an insurance company?

Sponge

The house I'm currently living in, but selling, suffered a similar problem in 2001, just before I bought it. It's a late 1800s, mid-terrace with a back yard. There was a problem with the drains at the read (corner) which resulted in repairs being made under the then owners house insurance. The drains were replaced and the rear quarter of the property required underpinning.

When we bought it we took on a policy with the insurance company that did the work. Premiums steadily rose each year and we tried to get cover elsewhere, but as soon as you mention underpinning they either run a mile, or massively increase the premium.

As it's now been over 10 years, I can get insurance through M&S (underwritten by Axa) at a 'normal' premium.

You'll soon know what work, if any, is required when they get the results of the CCTV inspection. If it requires lots of work, then I imagine they'll get it done on their insurance. So, like others have already mentioned, this'll probably mean being tied to that company and paying increased premiums for several years. So don't forget to factor in the increased premiums when negotiating a discount.

We did it and it needn't prevent you from proceeding. Just be prepared.

PS If you do proceed, make sure you get all the documentation, inc. completion certificates, relating to the work. (We have pre-work documentation, but no post-work certs. which has slightly complicated matters with our current sale.)

poledancer49

Thanks again. If the sellers reduce the house price accordingly and we pay for the work whether it be to fix the drains or under pinning how would this effect our insurance policy with our current insurer...I guess what I am asking is I have to advise my insurance company of the work completed?

Tancred

poledancer49 wrote: »

Thanks again. If the sellers reduce the house price accordingly and we pay for the work whether it be to fix the drains or under pinning how would this effect our insurance policy with our current insurer...I guess what I am asking is I have to advise my insurance company of the work completed?

Why would you want to tell an insurance company and pay additional premiums? I think you would only need to tell them is any underpinning work is needed, which seems unlikely if it's a minor issue.