structural damage on hmo

[diseasex]

Hi, i have a question to and i know there are many landlords here.
So I've just viewed this property - 5 bed terraced for nice entry-level price. Now there were few cracks on the on 2 walls (not very big, in the corner under ceiling). Also in one room the floor seems to be lower than the panels as if it dropped slighly, so i highly suspect structural damage. Other than that this property is nice and have 5 decent size rentable rooms
Is it automatic walk away or should I survey it and see?

thanks for tips.

[stek]

Does it matter if you're letting it to foreigners?

[diseasex]

Does it matter if you're letting it to foreigners?

Can it not get worse?

[MrMarkyMark]

Sounds to me like the place is falling down, avoid.

Could be subsidence also.

Is this the place?

[Martin Scroatman]

Hi, i have a question to and i know there are many landlords here.
So I've just viewed this property - 5 bed terraced for nice entry-level price. Now there were few cracks on the on 2 walls (not very big, in the corner under ceiling). Also in one room the floor seems to be lower than the panels as if it dropped slighly, so i highly suspect structural damage. Other than that this property is nice and have 5 decent size rentable rooms
Is it automatic walk away or should I survey it and see?

thanks for tips.

I'm guessing if there was subsidence, the mortgage co. wouldn't lend?

I bought a house on sandy soil. It had a crack all the way from ground level to the eaves of the gable end.


Movement isn't always obvious.

Sometimes you can only get a better idea from taking measurements over a period of time.

[diseasex]

I'm guessing if there was subsidence, the mortgage co. wouldn't lend?

I bought a house on sandy soil. It had a crack all the way from ground level to the eaves of the gable end.


Movement isn't always obvious.

Sometimes you can only get a better idea from taking measurements over a period of time.

OK but you don't say how to go about these issues

[ASB]

Are you prepared to manage getting any requiredrepairs done? If not walk away.

Are you prepared to expend on the full survey with the probability it will call for expensive specialist reports? If not walk away

Are you able to add values by doing the structural works?

It can be there case that reduced price plus repaircosts is a worthwhile chunk below market value.

after repair wil it be insurable?

[d000hg]

Hi, i have a question to and i know there are many landlords here.
So I've just viewed this property - 5 bed terraced for nice entry-level price. Now there were few cracks on the on 2 walls (not very big, in the corner under ceiling). Also in one room the floor seems to be lower than the panels as if it dropped slighly, so i highly suspect structural damage. Other than that this property is nice and have 5 decent size rentable rooms
Is it automatic walk away or should I survey it and see?

thanks for tips.

Is it a new build, and this could be the house 'settling'?
When you asked the owner about it, what did they say?
Does the price reflect work may need to be done, or would the vendor drop the price if this is required?

[diseasex]

Is it a new build, and this could be the house 'settling'?
When you asked the owner about it, what did they say?
Does the price reflect work may need to be done, or would the vendor drop the price if this is required?

its been already bid on asking price and the only solution for me is to overbid slightly.

I think I'll walk away this time buy something slightly more expensive but less problematic.

Thanks all for the tips

[d000hg]

Unless it's very under-priced or you fell in love with it, it sounds like it's not worth the risk.