would you buy this property

**chicane** · 3 May 2007, 13:16

What are you buying it for?

Is it dirt cheap compared to other similiar properties in the area? If not, you're buying a house at market value with a potential flaw.

**threaded** · 3 May 2007, 13:17

I'd try and find out what is causing the subsidence.

**milanbenes** · 3 May 2007, 13:17

I am unsure whether my qualification as an .Net blagger makes me eligible to give you guidance on this problem.

Can I suggest perhaps you ask a zoologist, or a physician or a dentist.

Failing those, as a last resort, ask around and get the recommendation of a good surveyor, contact him, offer him a cash in hand deal (are we allowed to say such things these days) and get him to tell you what he thinks.

All the best,

Milan.

**rootsnall** · 3 May 2007, 13:20

If it really is dirt cheap then it's because you can't get a mortgage on it due to its problems. In that case you'd have to pay cash and could only sell to cash buyers. Avoid like the plague I would think.

**Clippy** · 3 May 2007, 13:21

As long as this, as well as the general state of the property, is reflected in the price, then yes.

If it does suffer from subsidence, then you will struggle to get a mortgage.

However, if the house is professionally underpinned, then you should get a (25 year) guarantee with the work so any future purchasers should not have any problems getting insurance/mortgages.

I'd get an approximate quote for the cost of underpinning and use this as a bargaining chip to get the price reduced further.

Also, I may be wrong, but I think you can get an environmental report for the property on-line which should tell you if there is a hsitory of subsidence in this area - sorry, can't remember the site.

EDIT: Got my own curiosity going on this one and found the site (had it bookmarked). HTH.
http://tinyurl.com/2nojz6

**Bagpuss** · 3 May 2007, 13:31

Originally posted by churkus

seen a mid terraced 1970's property in a block of 6 terraces. Dirt cheap, needs d/g and some plastering etc doing internally. only thing is the property on the end of the terrace, 3 doors away, is suffering some visible subsidence, cracks up the exterior walls etc, and the chap next to that house says he has some cracks internally.

estate agent swears on his mothers grave it isnt a problem since its a mid terrace. what do u think, is it worth the risk?

Avoid, plus the fact that it was built in the asthetically challenged 70s should put you off

**Clippy** · 3 May 2007, 13:34

Originally posted by Bagpuss

Avoid, plus the fact that it was built in the asthetically challenged 70s should put you off

Where's your backbone man?

Get in, throw some money and labour at it, get out, count the moolah.

Lovely Jubbly!

**Churchill** · 3 May 2007, 13:35

Originally posted by threaded

I'd try and find out what is causing the subsidence.

You don't live next door, do you?

Sorry mate, couldn't resist.

**Bagpuss** · 3 May 2007, 13:36

Originally posted by Clippy

Where's your backbone man?

Get in, throw some money and labour at it, get out, count the moolah.

Lovely Jubbly!

If a house is sinking then you could throw loads of money at it as macho as you like

would you buy this property