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Is this a bad survery?

2»

Comments

  • ethank
    ethank Posts: 2,197 Forumite
    Holiday Haggler I've been Money Tipped!
    In your own words you'll be getting a £750k house for £640k, this just comes down to how much you want a bargain and the work that comes with it!
  • kkqd1337
    kkqd1337 Posts: 26 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    ethank wrote: »
    In your own words you'll be getting a £750k house for £640k, this just comes down to how much you want a bargain and the work that comes with it!

    but what about the overhang of owning a property that has had subsidence

    will it ever achieve a decent price?
  • ReadingTim
    ReadingTim Posts: 4,087 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    kkqd1337 wrote: »
    but what about the overhang of owning a property that has had subsidence

    Well, you'll want to retain proof that the issue has been rectified, and it may cause future buyers to be a little more wary, with less experienced ones perhaps pulling out, but just as you're considering buying it now, it's fair to say someone else will come to the same conclusion as you in the future.
    kkqd1337 wrote: »
    will it ever achieve a decent price?

    Maybe slightly less 'decent' than somewhere else without similar issues, so yes, you may have to sell it for less, but that's balanced out by the fact that you bought it for less in the first place.
  • KBNewby
    KBNewby Posts: 33 Forumite
    10 Posts
    I'm having similar with a property we are purchasing. A drain has gone causing some subsidence on one side of the property. The surveyor was not overly concerned, and once it is fixed you will have the relevant certification and there shouldn't be any further issues. "subsidence" without a fixable cause would be more concerning for me personally.
  • kkqd1337
    kkqd1337 Posts: 26 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    KBNewby wrote: »
    I'm having similar with a property we are purchasing. A drain has gone causing some subsidence on one side of the property. The surveyor was not overly concerned, and once it is fixed you will have the relevant certification and there shouldn't be any further issues. "subsidence" without a fixable cause would be more concerning for me personally.

    is this something that should be claimable on the current owners insurance?
  • KBNewby
    KBNewby Posts: 33 Forumite
    10 Posts
    kkqd1337 wrote: »
    is this something that should be claimable on the current owners insurance?

    This is the angle we are going for... fingers crossed.
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