"Heave" in a property

JuneBow

I am considering viewing a property which says it is "for cash buyers only".
Apparently it has heave.
I am presuming this is where the foundations have been filled with absorbent material which has caused distortion of the walls?
The agents were predictably vague.
Would I be right in thinking this is what is meant by heave? And what would be the likely cost to repair? Or is it too difficult to quantify even without seeing it?

Warwick_Hunt

It's often caused by clay soil. It's when the ground under the building pushes up, the opposite to subsidence.

How much will it cost, how long is a piece of string?

Doozergirl

Heave is often caused by large trees being removed.

The tree initially causes subsidence by sucking moisture out from under the foundations and shrinking the ground. The house starts to sink.

Heave is caused when moisture is re-introduced and the house rises. Often it's because the offending tree is removed and in essence, it's the ground returning to its natural state, pushing the house up.

shaun_from_Africa

JuneBow wrote: »

I am considering viewing a property which says it is "for cash buyers only".

When buying a property, the seller gets the money regardless of whether you are paying the whole sum in cash or getting a mortgage so the only reason that I can think of for the "cash only" stipulation is because the sellers or their estate agent know that a mortgage would never be given for the property.
They obviously don't want people applying for a mortgage then getting it turned down as this would disrupt the sale.

Looking at it that way, if you were to buy the property, it may well end up being a property for life as even if you get the heave sorted out, it will have to be declared to any potential buyers in the future and could well put them all off.
There is also insurance to consider. Have you contacted any insurance companies or brokers to find out if they will provide building cover and if so, how much the premium will be and what excess you will have to pay?

FreeBear

"Cash buyer only" is a good indication that the property is unmortgageable in its present condition. Unless you have pots of money and it is dirt cheap, probably best to walk away.