Comments / Advice on House Purchase

VivienneJane

Hi All,

Please can you help? I've found a lovely 1930's semi in a great area at an ok price (no chain - it's a deceased estate) but....the mortgage valuation report came back with a suspected subsidence issue near the back bay window. Today I've had the Structural Engineers report stating that the rear bay has suffered from noticeable foundation settlement and recommending (but not insisting on!) remedial underpinning and rebuilding of the outer leaf of brickwork. The costs are not horrendous (1.5-2k ish) but I would be interested to hear your thoughts - would you proceed, back out, ask the estate for a discount? My last house purchase was incredibly straightforward so this is new territory for me.

Thank you!

chickaroonee

I think the problem you'll have is a) getting insurance and b) selling it on. A lot of people will run a mile when they hear the word subsidence. I'd consider walking away if it was me personally.

Lord_Baltimore

I'd want a better deal than an 'ok price' with a subsidence issue. Go back to the estate if you're that keen and ask for a serious reduction. Personally though, I'd walk for the reasons chickaroonee mentions.

BTW, a surveyor won't insist you have underpinning but his recommendation means that the property needs it and be it upon your head if you don't follow the advice.

On balance, buy something else. It could be the tip of the iceberg.