Selling house - subsidence & pinned and Home buyers survey

Tom99

CARRYONFILM12 wrote: »

Never got my head around the difference between settlement and subsidence.

"Settlement usually occurs in new or relatively new buildings. They are very heavy and cause the ground to compact, but this normally stops after a short while. ... Subsidence on the other hand is far more serious and occurs when the ground beneath the building is unable to support it."

Davesnave

Tom99 wrote: »

Since it is bound to come out into the open when you complete the TA6 form why hide it from potential purchasers?
Some purchasers may take it in their stride but others will be immediately put off and pull out with you both wasting weeks of time. Your house then has to go back on the market and will appear stale.

If they've made a cash offer in ignorance of this, the purchasers may well want a further reduction.


This is because there's a stigma with underpinned property, which is remarkably resistant to facts and logic. While your house is likely stronger and better protected than those of your neighbours, that will count as nothing till the underpinning is historic: i.e. about 20-25 years old.

My daughter bought an historcally underpinned house. It had all the right paperwork and the insurance was straightforward, but she still paid around 10% less than the going rate.