Difficult house to value

ThisIsWeird

In essence, tho', I suspect the house value isn't far off what is 'reasonable', as there seemingly was another interested buyer. Could that buyer have been so naïve that they weren't aware of the state of the place, and pulled out simply when they found this out? Or did they just baulk at the actual quotes for the underpinning when they got them?

There must surely be ballpark figures for this sort of work, once the cause is known. Eg, if on 'clay', then it should be reasonably known just what sort of remedial work would be required, I'd have thought. If due to mines, then perhaps not... :-)

silvercar

When I see these sort of places, I wonder why a builder hasn’t snapped them up if there is a profit to be made. 

For you it would be that you are getting an overall cheaper price, once you have factored in the hassle and the risk factors of things costing more or taking longer. For a builder it would be whether they can turn a profit. So if a builder hasn’t seen the opportunity, then is there something else in play?

UnderOffer

MikeJXE said:

I would want to know what is causing the subsidence, is it the location and other properties are similar or is it the ground it sits on ? 

I have worked in the building trade for many years and have seen the slow progress of underpinning and 1k - 2k seems incredibly cheap depending how much the rest actually is, plus is the existing underpinning satisfactory ? 

Any ideas ?

Yes unless you have a shed load of money walk away, there's not much worse than subsidence 

I think the OP was suggesting the structural engineer reports would cost 1-2k, not the works involved?