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Selling a 11yro house under NHBC Structural assessment
Alison0804
Posts: 1 Newbie
Hi all
Hopefully someone can help us with our predicament, or may have had experience similar.
We bought a new build house in 2009, which we now rent out. Late 2018 just before the 10 yr NHBC guarantee ran out, our tenant reported what was thought to be just Movement cracks were now significantly growing wider, both inside the house and outside. It is a corner house, linked to others. NHBC began investigating and in Feb they appointed a company to monitor both inside and outside with various brackets, and technical equipment every 2 months. They are reporting it is still moving away from the other houses. There is another 4 months of surveying. The cracks are now 1.5 to 2 inches, it is sort of detached now! Our tenant cannot decorate inside, nor can we, the interior ceiling walls look a mess. We have had to reduce the rent for the inconvenience of this and for the surveyors who need access inside the property.
We are actually now in a position where financially we need to sell the property, but how can we sell it when its under such investigation? I doubt we can get even close to it's value now, let alone when the results are finalised, maybe it needs Pinning. Either way, we are going to struggle to sell it full stop! Where do we stand legally? Do the original estate builders have a duty to purchase it at market value? Or do the NHBC compensate?
Hopefully someone can help us with our predicament, or may have had experience similar.
We bought a new build house in 2009, which we now rent out. Late 2018 just before the 10 yr NHBC guarantee ran out, our tenant reported what was thought to be just Movement cracks were now significantly growing wider, both inside the house and outside. It is a corner house, linked to others. NHBC began investigating and in Feb they appointed a company to monitor both inside and outside with various brackets, and technical equipment every 2 months. They are reporting it is still moving away from the other houses. There is another 4 months of surveying. The cracks are now 1.5 to 2 inches, it is sort of detached now! Our tenant cannot decorate inside, nor can we, the interior ceiling walls look a mess. We have had to reduce the rent for the inconvenience of this and for the surveyors who need access inside the property.
We are actually now in a position where financially we need to sell the property, but how can we sell it when its under such investigation? I doubt we can get even close to it's value now, let alone when the results are finalised, maybe it needs Pinning. Either way, we are going to struggle to sell it full stop! Where do we stand legally? Do the original estate builders have a duty to purchase it at market value? Or do the NHBC compensate?
0
Comments
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The original builder most definitely don't have a duty to compensate, yet alone buy back at full value. They provided you with NHBC warranty to deal with that.
The NHBC warranty will pay for making good on the defect, but AFAIK the process is drawn out, so I wouldn't count on it getting resolved soon. Especially if there is ongoing movement they are monitoring etc.
The warranty itself is transferable to the new owners and I assume also is the ongoing claim/incident, but I would advise to call NHBC and ask them to confirm.
Even if it's transferable you are right to assume you will have to settle with much lower value, that is if it's even mortgageable in it's current state.0 -
Everything will sell at a price - you will probably be restricted to cash buyers who are taking a punt (low ball offers).
Getting a resolution with NHBC will take a very long time as you know. Has the actual cause been identified yet of the movement?0
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