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Underpinned house....advice please!
mrhappyman
Posts: 18 Forumite
Hello all
I posted about this a few days ago but slightly different questions, really just wanted advice and opinion as to whether you would buy a house I have looked at, and how much you'd offer.
It's a lovely 4 bedroomed detached with a great garden, on a nice street with scope for extension in the future. It's on at £425,000 which for this street and this house, is about the current market rate. It's been on sale for about 4 weeks now though no one has made an offers as yet though there have been viewings.
Some facts:
1. It was built in 1927.
2. It suffered from subsidence in 1985 (so 30 years ago), and the right side of the property (more than 6 metres) was underpinned.
3. Subsidence is quite rare for this city where the house is, though there are a few houses on this road and some not too far away that have also suffered from
4. I have seen the original structural engineer's report and sign-off after the work was done to say he was happy with it (the engineer thought it was the property's drainage or a changing water table which caused the subsidence).
5. There was a 30 year guarantee for the work but that expires this year.
6. The house was sold after the underpinning, and then bought off that buyer by the current seller in 1996.
7. She extended the porch in 1996 and in 2002, the whole rear of the house, both extensions the local council are aware of.
8. I have been unable to find whether the local council/planning/building control signed off the work though as far as I am aware, even in 1985 underpinning would require their consent and checks as it's a structural alteration.
9. I have made enquiries with the council as to whether they are aware and signed off, and waiting to hear back - the seller doesn't have this info.
10. The seller advises that since she bought the house in 1996, there have no issue at all/no further movement since the underpinning in 1985 (i.e. 30 years ago).
11. The seller originally had a mortgage and C&G and with Barclays since 2010, so normal, high street lenders
She has buildings insurance also with a normal high street (rather than specialist insurer), she's with Barclays who I have spoken with and they advise that they are aware of the previous subsidence, and there is standard insurance cover. The seller tells me she pays about £250 a year.
The house has a high standard of fit and finish. If I went ahead, naturally I would get a surveyor and structural engineer's reports to make sure all is in order. I know technically the house seems structurally fine, but am conscious of the perception and stigma in the eyes of those people who are likely to be buying if and when I sell (I could live there for 10 years, but don't want to risk not being able to sell or having to give a discount due to this issue).
Questions then:
1. Would you buy this house if it was what you were looking for and is within your target budget?
2. All things considered, how much would you pay? The asking price is £425,000.
Really appreciate your thoughts!
I posted about this a few days ago but slightly different questions, really just wanted advice and opinion as to whether you would buy a house I have looked at, and how much you'd offer.
It's a lovely 4 bedroomed detached with a great garden, on a nice street with scope for extension in the future. It's on at £425,000 which for this street and this house, is about the current market rate. It's been on sale for about 4 weeks now though no one has made an offers as yet though there have been viewings.
Some facts:
1. It was built in 1927.
2. It suffered from subsidence in 1985 (so 30 years ago), and the right side of the property (more than 6 metres) was underpinned.
3. Subsidence is quite rare for this city where the house is, though there are a few houses on this road and some not too far away that have also suffered from
4. I have seen the original structural engineer's report and sign-off after the work was done to say he was happy with it (the engineer thought it was the property's drainage or a changing water table which caused the subsidence).
5. There was a 30 year guarantee for the work but that expires this year.
6. The house was sold after the underpinning, and then bought off that buyer by the current seller in 1996.
7. She extended the porch in 1996 and in 2002, the whole rear of the house, both extensions the local council are aware of.
8. I have been unable to find whether the local council/planning/building control signed off the work though as far as I am aware, even in 1985 underpinning would require their consent and checks as it's a structural alteration.
9. I have made enquiries with the council as to whether they are aware and signed off, and waiting to hear back - the seller doesn't have this info.
10. The seller advises that since she bought the house in 1996, there have no issue at all/no further movement since the underpinning in 1985 (i.e. 30 years ago).
11. The seller originally had a mortgage and C&G and with Barclays since 2010, so normal, high street lenders
She has buildings insurance also with a normal high street (rather than specialist insurer), she's with Barclays who I have spoken with and they advise that they are aware of the previous subsidence, and there is standard insurance cover. The seller tells me she pays about £250 a year.
The house has a high standard of fit and finish. If I went ahead, naturally I would get a surveyor and structural engineer's reports to make sure all is in order. I know technically the house seems structurally fine, but am conscious of the perception and stigma in the eyes of those people who are likely to be buying if and when I sell (I could live there for 10 years, but don't want to risk not being able to sell or having to give a discount due to this issue).
Questions then:
1. Would you buy this house if it was what you were looking for and is within your target budget?
2. All things considered, how much would you pay? The asking price is £425,000.
Really appreciate your thoughts!
0
Comments
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mrhappyman wrote: »Questions then:
1. Would you buy this house if it was what you were looking for and is within your target budget?
2. All things considered, how much would you pay? The asking price is £425,000.
1. No.
2. See 1.
I know you're fancying this house and that there are those who feel 'ordinary people' don't understand subsidence but most people who might buy your house in future won't be engineers and will be put off by the property history. This may be irrational thinking but it will be the thinking nonetheless.
The £400-£500k price point is tricky enough at which to sell without there being any 'issues'. Buy a different place or be prepared for a longer than normal wait when you come to sell.Mornië utulië0 -
Subject to structural reports etc, yes I would.
I would not expect any particular discount for the underpinning history. The house is what it is, and the sellers are valuing it based on that. (It's possibly more stable than anything else built in the 1920s).
Your insurers will probably want a structural survey, but as long as they're happy, adn you like the place...0 -
Thank you. My feeling so far is yes, there are people (like me) who will consider the house and if the paper trail is fine and problem solved, may well make an offer to buy.
The Internet has shown though that lots of people consider underpinning a major issue and will leave such a house well alone...maybe the majority of people?
I guess it comes down to a very personal preference and being wiling to have a house on market for longer than otherwise0 -
Hi, posted an update on the other thread and listing it here too...
The local council's building control department just emailed me today to advise that they do not have any record of any building regulation application for this house i.e. for the underpinnning work. As far as I am aware, even in 1985, it would have normally required building regulation consent as underpinning was a structural alteration?
I wonder if this changes anyone's opinions on here, and if they felt the paper trail was materially incomplete?0 -
It reinforces my view that this is one to walk away from or you may become mrunhappyman:)Mornië utulië0
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I've just exchanged on an underpinned house. All the paperwork was available, including building regs sign off. I would probably have walked away if the vendor/council were unable to provide it.0
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Providing the property has been underpinned for sometime and that their are no further signs of movement, I will put a offer in on your property, subject to relevant survey etc.
Alot of people get nervous when they hear the word 'underpinning' but if it's done correctly there nothing to worry about.
In my line of work I've seen much bigger buildings being underpinned and to see a house being underpinned is nothing.
If I was buying your property I will try my luck and offer £10-15k less.
Good Luck.Save Save Save:o
SPC 593 paye:o0 -
Coincidence they are selling just as the guarantee is up0
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Indeed! I'd rather not have to change my username
0 -
Thanks all.
Paye, do you think there is an issue with the house being underpinned just to one side and no the other in terms of future problems? Also the lack of council regs sign off, would that not bother you in light of you trying to resell in the future?0
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