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Subsidence
MCSAD
Posts: 1 Newbie
Subsidence 10 years ago. Would you buy?
2 months into the conveyancing process of buying a flat in London and we have just found out the property suffered subsidence 10 years ago as a result of a tree that had been taken down. Apparently, the insurers monitored it for 3 years then signed it off as fine. (At this stage we're not too sure what this means, but we are awaiting responses).
The property has not been underpinned and our survey did not pick up on subsidence. The building has insurance, which covers for problems arising as a result subsidence, in the future.
Our concern is that whilst everything seems okay now, the stigma that is attached to 'subsidence' could make it difficult to sell in the future. However, as London is built on clay, subsidence is fairly common, so we're interested in hearing from people who live in London, whether they would buy a property that has a history of subsidence, or whether they would walk away. Please do detail any experience you have in this area when you reply.
Many thanks!
2 months into the conveyancing process of buying a flat in London and we have just found out the property suffered subsidence 10 years ago as a result of a tree that had been taken down. Apparently, the insurers monitored it for 3 years then signed it off as fine. (At this stage we're not too sure what this means, but we are awaiting responses).
The property has not been underpinned and our survey did not pick up on subsidence. The building has insurance, which covers for problems arising as a result subsidence, in the future.
Our concern is that whilst everything seems okay now, the stigma that is attached to 'subsidence' could make it difficult to sell in the future. However, as London is built on clay, subsidence is fairly common, so we're interested in hearing from people who live in London, whether they would buy a property that has a history of subsidence, or whether they would walk away. Please do detail any experience you have in this area when you reply.
Many thanks!
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Comments
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So it didn’t have subsidence if it was monitored and nothing done to remedy. It would have been deemed too minor. If a tree was removed, the ground would heave, not subside. Eventually it stops and there is no ongoing problem to be concerned about because the tree is gone. If something bad was happening, it would have happened within those three years, really. All houses move, because the ground always moves, so don’t think that it’s too unusual. It isn’t.
If there is no tree present to disrupt the ground more than is usual, I wouldn’t have a particular issue.
Almost all of London is built on clay.Everything that is supposed to be in heaven is already here on earth.
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