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Shale
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shie6523
Posts: 62 Forumite
Hi - popped on here for some advice. I'll keep it brief:
2 yrs ago myself and my partner saw a house for sale which we liked but weren't in a position to buy.
House never got sold and was subsequently took off the market.
2 yrs later same house is up to let.
We approached the seller, asked whether he would still be interested in selling and he is.
After some investigative work, we've found out the house was de-shaled in 1986 and has a certificate and full plans to prove this. We think this may relate to why the house never sold.
The house was built in the 60's and my background is civil/structural engineering. Whilst viewing the house I found no evidence of any major cracks in either walls or floors and had no difficulties opening & closing doors etc. This leads me to think problems associated with shale would have surfaced by now and is likely to not occur in the future.
The house is still on the rental market with no occupants.
I'm assuming our Lender would want a shale test carrying out to determine shale isn't present regardless of the de-shaling certificate. With this in mind would it be feasible to ask the seller to cover the cost of a shale test on the proviso that if its given the all-clear and is acceptable with our Lender, we would purchase the property.
Also, I was thinking of using the shale issue as a bargaining tool to get the seller to reduce the price significantly seeing as though we would be taking on both the risk of shale ever occurring and an increased building insurance premium.
Any thought would be gratefully received.
Thanks.
2 yrs ago myself and my partner saw a house for sale which we liked but weren't in a position to buy.
House never got sold and was subsequently took off the market.
2 yrs later same house is up to let.
We approached the seller, asked whether he would still be interested in selling and he is.
After some investigative work, we've found out the house was de-shaled in 1986 and has a certificate and full plans to prove this. We think this may relate to why the house never sold.
The house was built in the 60's and my background is civil/structural engineering. Whilst viewing the house I found no evidence of any major cracks in either walls or floors and had no difficulties opening & closing doors etc. This leads me to think problems associated with shale would have surfaced by now and is likely to not occur in the future.
The house is still on the rental market with no occupants.
I'm assuming our Lender would want a shale test carrying out to determine shale isn't present regardless of the de-shaling certificate. With this in mind would it be feasible to ask the seller to cover the cost of a shale test on the proviso that if its given the all-clear and is acceptable with our Lender, we would purchase the property.
Also, I was thinking of using the shale issue as a bargaining tool to get the seller to reduce the price significantly seeing as though we would be taking on both the risk of shale ever occurring and an increased building insurance premium.
Any thought would be gratefully received.
Thanks.
0
Comments
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Maybe an indemnity insurance would satisfy your needs.0
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Maybe an indemnity insurance would satisfy your needs.
I think that unlikely given it has already been de-shaled. Obtaining an indemnity in the possession of full knowledge of an existing problem - albeit one allegedly dealt with - would be difficult if not impossible.
OP, I expect any lender would demand a shale test before any mortgage would be formally offered. Would I use it as a bargaining chip? Darn right I would!0
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