Has anyone purchased a house with signs of subsidence? Or sold one?
I am looking for advice from anyone who has managed to purchase a house with signs of subsidence and negotiate a significant discount. Or if you anyone has sold a house with subsidence, it would be interesting to get your perspective as a seller.
I am considering purchasing a house which has signs of subsidence (some cracking on the inside walls and two small cracks on the exterior walls) which have been identified as being longstanding and non progressive and am looking for advice on how to go about negotiating a lower offer than what was agreed.
Items I have on my list for consideration so far:
- Higher insurance costs potentially
- Difficulty selling as future buyers may be put off
- Remedial works are only as good as the quality of the contractor, so problems may reoccur in the future - most costs
- Could be more difficult to obtain finance and higher rates
Any help or advice would be much appreciated.
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