Should I be negotiating a lower price?

Kua

I agreed a price of £91k on a property but it transpires that:

Flooding has occurred "2 or 3 times in last 10 years we have witnessed a few cm's of water in the cellar, although this seems to have not happened since the drains on the street were redone and the road recovered."

Obviously that's no guarantee it won't happen in future.

This wasn't mentioned at all previously, though of course I should have asked that specific question.

They've had to wait a bit for me to sort my mortgage out. But they put it back on the market recently and will take it off once I sort out a survey which is imminent.

Do I have a case for lowering my offer? I don't want to lose the house but it does affect the value. Especially as it increases my buildings insurance big time!

Thanks!

lessonlearned

TBH - flooding 2 or 3 times in 10 years is quite a high risk.

Are you sure they are not downplaying this. They must be able to remember exactly how many times. Is it 2 or is it 3. Or is it more and they are being economical with the truth…..

Can you check with the local water authority to see whether the drains are now ok.

Why did they remarket the property before you had your survey done.

Look before your leap on this one.

Swafe

Sounds dodgy to me, 2 or 3 times in 10 years, do you want to deal with that? Household/Flood insurance will be sky high also if this is true, I would be worried with any flooding unless it was 1 in 50 or 1 in 100, way the weathers going flooding is probably only set to increase... dont want to be in a soggy house every year

Talc1234

Before you do anything else enter the postcode (and disclose the flooding) in to a price comparison website for home insurance.

Will anyone insure you? If so how much are the monthly premiums? If not you will need specialist insurance and it may be expensive or worse be uninsurable

Personally I would walk..... er run from this one

jaybeetoo

Get an insurance quote before you spend any more money. That might help you decide.

teneighty

Try this:


http://maps.environment-agency.gov.uk/wiyby/wiybyController?x=357683.0&y=355134.0&scale=1&layerGroups=default&ep=map&textonly=off&lang=_e&topic=floodmap

G_M

To me, this is not a question of price reduction (by how much? How do you quantify in £ the negative value of aflood?). It's a question of buy, or walk away.

Do your own research:
* talk to neighbours, the postman, the corner shop etc
* check the local paper for reports of flooding
* go to council offices and talk to Planners, & Road drainage depts

Establish independantly how often and when it really has flooded.
How high the flooding was
What remedial action has been taken by the council/water authorities
When?
Whether there has been severe rain since that remedial action which tested it.

Only when you have all the info can you assess the risk and decide if you want to live there.

Kua

Thanks for all the advice. Just a thought: cellar flooding a few cm is not the same as house flooding...

slickric1234

to buy a house with flooding issues isnt smart

im quite suprised a motgage company would offer a mortgage on it as insurance is compulsory but often too expensive or not offered if the house keeps flooding

tbh unless it was something mior that caused flooding such as a blocked drain that you could easily overcome then id walk away

Davesnave

Kua wrote: »

Thanks for all the advice. Just a thought: cellar flooding a few cm is not the same as house flooding...

That's what I thought!


I live on a ridge, so my house will never flood, but I know where the water table gets to in the winter time and that's sometimes about 15" below DPC, or less.


So, if my house had a cellar, that would be flooded.


Maybe the house has a damp cellar, but you could have very honest sellers too! :rotfl:

AndyGuil

Check the buildings insurance. Might get refused or be very expensive.