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Results: What would you do ?

Negotiatae for more reduction.

14.29% • 3 votes

Walk away!

85.71% • 18 votes

You may not vote on this poll

21 votes in total.

  • FIRST POST
    • KenKen
    • By KenKen 17th Jul 17, 3:31 PM
    • 17Posts
    • 9Thanks
    KenKen
    Mine shafts within 20m
    • #1
    • 17th Jul 17, 3:31 PM
    Mine shafts within 20m 17th Jul 17 at 3:31 PM
    Hello everyone,


    I am in the very stressful buying process as a FTB and I need honest advice from all members!
    I will try to explain the process step by step:


    1- Agreed on 205,000 over purple bricks (PB) for a 3 bed detached in Middleton LS10 / Leeds
    2- Turned out PB inflated the price as valuation came as just 190,000
    3- I have done my homework which I should have done at the beginning as a FTB
    4- Negotiated the down price of 195,000 after couple stressful weeks
    5- My *** solicitor remembered to share the mining report with me after 1 month she got it
    6- The report says that there are not just 1 but 3 mine shafts within 20m of the property
    7- They say that they are all capped back in 1985 (30 years ago) and no current mining issue in the area
    8- The house built in 1995 (20 years ago) and no mining related issues since then
    9- They bought the house from new and this will be the first sale
    10 - My solicitor ordered more detailed Imperative Mine report and will write to Halifax about shafts...


    I know that even 1 mine shaft putting some people off and I have 3 unfortunately even though they have capped as report says. I think this will be still an issue when I try to sell it in future.
    I have already spent 3 stressful months and some fees for this house. This is the main reason I am still considering this house...


    What would you do if you were in my shoes ?


    A- Negotiate down for the valuation price of 190,000 or maybe more!
    B- Wait for the Bank reply.
    C- Walk away!


    Thanks in advance!
Page 3
    • spirit
    • By spirit 3rd Aug 17, 9:09 PM
    • 2,714 Posts
    • 6,205 Thanks
    spirit
    Sounds like it was overpriced anyway
    I sold a 3 bed detached just down the road from Middleton in April this year. The house was 10 years old, new boiler, showers, ensuite and all up together. There was no mention of mine shafts nearby.

    It wasn't sold for anything like 190k, not that there was anything wrong with it at all, it was just the price for that area.
    Mortgage free as of 10/02/2015. Every brick and blade of grass belongs to meeeee.
    • KenKen
    • By KenKen 7th Aug 17, 12:56 AM
    • 17 Posts
    • 9 Thanks
    KenKen
    Process: 3 stressful months.
    Cost: 1,500.
    Result: Mortgage offer is withdrawn by Halifax due to poor sale-ability.

    My advice to FTBs:
    1- Do your homework before making an offer
    2- Google for Mining or Flood risk in the area
    3- Ask for mining report in advance from sellers if there is a risk
    4- Check for leasehold terms for sure
    5- Ask for copy of searches from your solicitor as soon as they are completed
    6- Do yourself a favour and Stay away from Purple Bricks (they advertised the same house with inflated price again like nothing happened)
    7- Stay away from vendors using online solicitors
    8- Stay away houses with more than 1 mine shafts within 20m

    I wish no one has to suffer like me!
    • LEJC
    • By LEJC 7th Aug 17, 9:31 AM
    • 9,025 Posts
    • 59,992 Thanks
    LEJC
    Process: 3 stressful months.
    Cost: 1,500.
    Result: Mortgage offer is withdrawn by Halifax due to poor sale-ability.

    My advice to FTBs:
    1- Do your homework before making an offer
    2- Google for Mining or Flood risk in the area
    3- Ask for mining report in advance from sellers if there is a risk
    4- Check for leasehold terms for sure
    5- Ask for copy of searches from your solicitor as soon as they are completed
    6- Do yourself a favour and Stay away from Purple Bricks (they advertised the same house with inflated price again like nothing happened)
    7- Stay away from vendors using online solicitors
    8- Stay away houses with more than 1 mine shafts within 20m

    I wish no one has to suffer like me!
    Originally posted by KenKen
    I agree with the majority of your advice Ken....however a purchaser and seller are not able to transfer an existing mine report.
    The report contains an indemnity clause which is what the purchaser needs to pay for and the report is prepared in their name.The indemnity then is valid for the time the purchaser owns the property and is not transferable

    In advising purchasers to request the sellers report you may be seen as confirming that the report can be passed in full to the purchasers....

    The report needs to be obtained by the purchasers (via their solicitor) from the coal mining authority so that it includes the full indemnity....

    Without the indemnity the purchaser is not covered should they need to make a claim.

    It is also worth noting that many mortgage companies do offer a mortgage on properties within a mining area it is just a case of raising the possibility with them in the early stages to find those who offer suitable mortgage terms.
    frugal October...41.82 of 40 food shopping spend for the 2 of us!

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    • KenKen
    • By KenKen 7th Aug 17, 12:29 PM
    • 17 Posts
    • 9 Thanks
    KenKen
    My suggestion is about being fare and open at the very beginning to save eveybody from such suffers.

    The seller can order the report just for 30 in advance to show the buyers and most importantly to the valuer. If everybody is happy about the report than the buyer will be happy to order own report.

    If you leave to solicitor, you have already 1500 sunk cost which is far more greater than the loss of 30.
    • LEJC
    • By LEJC 7th Aug 17, 1:06 PM
    • 9,025 Posts
    • 59,992 Thanks
    LEJC
    So how is your new property search going Ken?
    frugal October...41.82 of 40 food shopping spend for the 2 of us!

    2017 toiletries challenge 179 out 145 in ...18.64 spend
    • KenKen
    • By KenKen 7th Aug 17, 1:24 PM
    • 17 Posts
    • 9 Thanks
    KenKen
    Still looking, it is really hard to find a nice house without any problems in this country unfortunately. Considering a new one but most of them have this leasehold scam. Looks like it's not possible to find open and honest practice in the property industry. Such a stupid and inefficient system which doesn't suits the UK. Looks like all industry designed to ripp off honest people and all is legal...
    • LEJC
    • By LEJC 7th Aug 17, 1:34 PM
    • 9,025 Posts
    • 59,992 Thanks
    LEJC
    oh well...just keep up with the positive attitude and hopefully you'll find something.
    frugal October...41.82 of 40 food shopping spend for the 2 of us!

    2017 toiletries challenge 179 out 145 in ...18.64 spend
    • BlessedNotStressed
    • By BlessedNotStressed 7th Aug 17, 1:49 PM
    • 25 Posts
    • 146 Thanks
    BlessedNotStressed
    I totally echo your sentiments about the property industry in this country, Ken!
    • spirit
    • By spirit 7th Aug 17, 2:14 PM
    • 2,714 Posts
    • 6,205 Thanks
    spirit
    Still looking, it is really hard to find a nice house without any problems in this country unfortunately. Considering a new one but most of them have this leasehold scam. Looks like it's not possible to find open and honest practice in the property industry. Such a stupid and inefficient system which doesn't suits the UK. Looks like all industry designed to ripp off honest people and all is legal...
    Originally posted by KenKen


    Manning Stainton sold mine (Rothwell office). I thought they were really good. They kept on top of everything from start to finish, chasing the chain down etc.


    If you are looking for perfection with agents/solicitors, you are going to be very disappointed.
    Mortgage free as of 10/02/2015. Every brick and blade of grass belongs to meeeee.
    • Billyk
    • By Billyk 15th Aug 17, 6:32 AM
    • 5 Posts
    • 3 Thanks
    Billyk
    New to this thread but having the same experience.

    Offer pulled by Yorkshire bank for a house in Wolverhampton due to having 3 mines around it's boundary. Coal interpretative reports state the house is unlikely to be affected but the outbuildings could be. This relates to a garage.

    Informed vendors who now think I am making this all up.
    Tried another lender The Tipton as they are a local company and happy to lend.....HOWEVER this is with a 20% reduction in the value of the house.

    I was looking for a forever home and not wanting to sell again. I know the property next door with the mine in its garden has had the coal authority do 3 inspections and they all say there is no ground movement.

    Unfortunately it is the mortgage lenders who are not lending and not the buyers not wanting to buy.
    Vendors not willing to reduce cost so yes I've spent also around 1500 and made to feel like a fraud when in actual fact I wanted to buy.
    • Lukman
    • By Lukman 7th Mar 18, 3:36 PM
    • 2 Posts
    • 2 Thanks
    Lukman
    late to this party, but damn, Ken, you're a first time buyer, I can appreciate the frustration, but you need to consider how you present yourself... some of your posts come across as you not appreciating advice those that are more experienced than you are offering.

    Yes, the whole house buying / selling process in this country is pretty crap. it's a "it's up to the buyer's solicitor to find things out and tell them" process. Estate agents actively advise their clients not to mention things voluntarily... "instead, stick with "that is what your survey is for" they will advise"... this is why estate agents are hated in the UK.

    Unfortunately, the seller was under no obligation to tell you things that might put you off... they're trying to sell, and they want to get as much money as they can... should they have told you if a kitchen tap drips? what if there's a puddle in the back garden every time it rains... should they tell you about local crime rates??? when does their obligation to you end? this is why you have a solicitor... it's your solicitors job to find these things out and point them out to you as soon as they can... your frustrations should be with your solicitor for delaying this information (you mentioned that they didn't tell you until a month afterwards) and perhaps you could have asked them to lower their fees for providing a sub-standard job.

    i am presently selling my house, the surveyor will recommend some things to the buyer - will i lower my price as a result? no. the buyer made an offer, i accepted after they had a chance to come and check things out... if they wish to lower their offer, i am happy to advertise my house again.

    if i start telling everyone that my bathroom tap drips, chances are i'll never sell my house at a sensible price because everyone that is not mentioning such things is getting all the buyers and everyone will expect me to sell at a lower price...so as much as i agree with you that in the ideal world you'd know everything before making an offer, reality is, no one does... not in this country, and as a result house buying is a bit of a gamble and you do rely on your solicitor and surveyor.

    but, all said and done, please show a little more appreciation towards other members when they offer advice... you're a first time buyer... wait until one day you try to sell your house and see how much crap people have to go through on the other side.
    • davidmcn
    • By davidmcn 7th Mar 18, 3:48 PM
    • 7,628 Posts
    • 7,757 Thanks
    davidmcn
    late to this party, but damn, Ken, you're a first time buyer, I can appreciate the frustration, but you need to consider how you present yourself
    Originally posted by Lukman
    He hasn't presented himself here since October...
    • ThePants999
    • By ThePants999 7th Mar 18, 5:31 PM
    • 1,111 Posts
    • 1,362 Thanks
    ThePants999
    late to this party
    Originally posted by Lukman
    No kidding! Do you actually expect the OP to come back so many months later, see what you've written and find it relevant?

    Edit: I see you're new here, so apologies if that came across strong. In case you're unaware, it's poor netiquette to resurrect a thread from a long time ago unless it's genuinely valuable to today's users of the forum to do so. (It's called "necroing".)
    Last edited by ThePants999; 07-03-2018 at 5:34 PM.
    • Smodlet
    • By Smodlet 7th Mar 18, 7:23 PM
    • 2,997 Posts
    • 6,030 Thanks
    Smodlet
    No kidding! Do you actually expect the OP to come back so many months later, see what you've written and find it relevant?

    Edit: I see you're new here, so apologies if that came across strong. In case you're unaware, it's poor netiquette to resurrect a thread from a long time ago unless it's genuinely valuable to today's users of the forum to do so. (It's called "necroing".)
    Originally posted by ThePants999

    Awwww! I missed it the first time and it is hilarious. Not being allowed repeats is pants imo. It could also be useful though one would hope anyone in this situation would start their own thread.
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