Valuation - Structural Movement, Landslip etc

TheTravellingTiffin

Hi all, a quick question if I may...in the process of purchasing a property (built in the 1930s). Had the basic valuation back and the market valuation is fine (as the value attributed is equal to the amount of our accepted offer) BUT I note that in the question relating to 'Movement', specifically 'Is there any evidence of structural movement, landslip or heave in the property or in the immediate vicinity?' the response from the valuer has been 'Y' (for yes). The subsequent question then says, 'If yes, does it appear to be longstanding and unlikely to be progressive?'. The answer from the valuer is 'Y' again. The valuer then goes on to say 'N' (no) to any specialist reports being required.

I am awaiting the 'fuller' homebuyers report from the valuer which I am hoping includes the detail (although appreciating that it is not a full structural) but is the above likely to cause issues with getting buildings and contents insurance?

I guess I need to see what the valuer says to see if its actually an issue - my gut feel is that it isn't because no specialist reports have been recommended and if there was a big issue then I would of expected the 'structural engineer' report recommendation to have been selected and the value attributed to have been affected.

Anyone experienced anything similar? Any thoughts/experiences would be much appreciated (particularly as we hope to exchange/complete in 12 days).

Thanks all and hope there are not too many Sunday evening blues for those back at work tomrw (the blues are dawning on me)!

GMS

Settlement occurs in almost all properties.


As long as the movement is long standing and non progressive you should be fine.


Your home buyers report will probably recommend a structural engineers report.

TheTravellingTiffin

GMS wrote: »

Settlement occurs in almost all properties.


As long as the movement is long standing and non progressive you should be fine.


Your home buyers report will probably recommend a structural engineers report.

Thank you for your reply, GMS. Assuming it is just settlement, is this something which requires disclosure to insurers?

dimbo61

Did you notice anything when you viewed the property.
1930,s property brick walls, tile roof ?
Any sign of cracked brickwork or drop near a drain ?
We own a 30,s semi and the front corner has dropped due to a poor drain where the soil was washed away and the brickwork dropped.
We had the drain repaired and brickwork repointed.

TheTravellingTiffin

dimbo61 wrote: »

Did you notice anything when you viewed the property.
1930,s property brick walls, tile roof ?
Any sign of cracked brickwork or drop near a drain ?
We own a 30,s semi and the front corner has dropped due to a poor drain where the soil was washed away and the brickwork dropped.
We had the drain repaired and brickwork repointed.

Thanks Dimbo61. Didn't notice anything at all like that.

Did you get any similar comments on your valuation?