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annie2023
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Sue

Sue

Posted
Posted (edited)

Just pull out, if you can 

If the owners haven't been upfront with you about these things, what else might they not have told you?

Better to lose some money now than buy it  and regret it.

Plus as you say, what would happen if you wanted to sell the house in the future?

Also, an insurer who will insure you now may not necessarily continue to do so. I have had subsidence, my then insurer withdrew my insurance as a result of the claim, and I had to go through a specialist broker to get insured.

I would say it's just not worth the risk and the hassle, irrespective of the structural stability report (which presumably isn't a guarantee?)

And don't be embarrassed! None of this is your fault!

Edited by Sue
  • Agree 2
the_hermit

the_hermit

Posted
Posted

We sold a house with subsidence providing all the paper trail and narrative upfront.  The list price was a slight discount to similar properties without subsidence issues and we got a few offers.  That's the way to do it.

Be nice to the estate agent.  Try to find out how desperate the vendor is to sell.  If they're desperate and you factor in a subsidence AND a substantial dishonesty discount compared to similar properties there might still be an opportunity but seems unlikely.

 

Sally Eva

Sally Eva

Posted
Posted

n addition to this, the house has suspected drainage issues and a leaking incoming water main. The owner is aware of these problems but has been unable to carry out repairs—likely because Thames Water has not cooperated. Drainage issues are a nightmare for any buyer, and although the water main leak is less serious, it is still time-consuming to resolve with Thames Water.

 

Many houses in london have shared drains. Ours runs along the back of the block of houses to a near by road as a shared drain it is the sole responsibility of TW to fix it. They will do this if you get heavy with them. If the house you are buying is like this, the current owners need to make TW fix it. You need a better explanation not just "TW not co-operating", why haven't they been legally forced to co-operated.

Sounds very 0dd indeed. I would not trust them. I am with Sue and CPR Dave

  • Agree 1
malumbu

malumbu

Posted
Posted

30 years ago you could buy and sell houses that had been underpinned without too much worry as long as the paperwork was in place. Huge swathes of Victorian and Edwardian, and occasionally between the wars, properties are underpinned in SE London.  Many after the 1976 drought and no doubt following the increasingly common droughts we are seeing in recent decades due to climate change.

First issue was when insurers got funny, Direct Line I remember, wont insure many SE post codes.

I'm not sure why there is more concern now, although five subsidence claims is quite impressive.

As others say if is it discounted and you are prepared to take the risk...

Not sure what others think of structural surveys, difficult here is that you need to monitor movement for six months or longer.  And older properties will move slightly with the shrinkage and expansion of the clay.  Most are out of true (look at how square original door ways are); some would have moved following bombing in the blitz.

Odd how much we invest in a pile of bricks that will age and deteriorate.

Sue

Sue

Posted
Posted (edited)
1 hour ago, annie2023 said:

 If it doesn’t feel right, I just walk away.

But you say in a previous post that you weren't very interested in this house in the first place, and yet you have got to this point despite knowing there had been  subsidence, and then  having discovered several  issues which the present owners  hadn't disclosed?

I'm wondering at what point it would feel so  insufficiently right that you walked away?

I completely understand your exhaustion, but won't you be even more exhausted if you go ahead with this purchase?

As regards drainage issues, I  can tell you from my own experience that Thames Water will argue that it is your responsibility to deal with a drain even if from their own website content it is clearly theirs.

And you might find someone in an obscure TW  department who tells you off the record that you are right, but that his  department is not the department which deals with repairs, and he has no contact with that department, and he asks you not to quote him or mention his name, or he will get into trouble 🙄

Edited by Sue
  • Agree 1
beansprout

beansprout

Posted
Posted

Well don’t buy in ED… 

Other places which  don’t have these issues abit further out… with good transport links, unless you are determined to buy in ED.

You might just have been unlucky with a greedy owner… problem is two fold, so I understand.. Owner has to by law, inform you of subsidence, knot weed etc . 

Buyers market and any competent agent, should have know there would be problems….

Other alternative is to pay a buying agent..

beansprout

beansprout

Posted
Posted

Not sure what you are looking for, but my suggestion would be around Forest Hill, certain parts of Bromley and West Wickham  Telegraph Hill.

All nice areas- safe and you get more for your money.

Really depends on how you travel, or don’t.. as inn needing good transport links to City.

Like I said, feel free to pm me.. abit difficult to advise if not sure what you are after, but pretty sure not a flat! 

oh, West Dulwich and Herne Hill area.

 

  • Agree 1
beansprout

beansprout

Posted
Posted

What happened to Clapham? You are going to get subsidence in most places.. if you have the money and thinking about resale or letting plus schools, amenities then certain parts of Herne Hill would be fine..

Plenty of people on forum would love to have clearly the budget you have to buy a property..

Your problem is, tbh.. you want a bargain and that is not going to happen in the areas you are looking in..

Most properties, with respect are sold before coming on the market or via word of mouth..

My advice, work with an agent not several as they compare notes, accept the fact that if you go via an agent, owner will be paying a fee to the agent..

Guess you are what is called “time waster”…


 

 

Actually, why don’t you buy in the country.. 

NewWave

NewWave

Posted
Posted

As Sue mentioned..You stated in your 1st post that you were'nt really interested in this property initially so I dont understand how you let it get to this point...

If you were'nt that interested and it was'nt 'cheap' I really don't know why you did'nt just walk away and not even go as far as putting in an offer.

I'm sorry but thats my view..you got yourself into this situation for a property you don't love and sounds like a money pit.

I really don't have sympathy.

  • annie2023 changed the title to Content removed

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