Would this put you off buying / whether to be upfront or not

(3 Posts)
NoPlanYet Mon 29-Aug-16 19:05:06

Tried selling my flat last year, fell through 3 times. Once die to redundancy but twice due to survey.

One survey said evidence of historic repair to structural movement, need to find out more. We didn't know more as our survey 5 yrs previously didn't really flag this, buyers pulled out sharpish.

Third failed people's survey much more damning. Said evidence of historic or current structural movement, need reassurance it's not current and doesn't need repair.

We got a structural engineer's report which confirmed movement REPAIR was mid century and no movement still. Buyers still ran off fucking risk averse FTBs as they thought insurance would be a problem.

We had to reinsure to rent out and most high st insurers did say they wouldn't cover us for subsidence cos of 60+ yr old fixed movement. Got new insurance through broker who asked for report: 275 pa buildings and contents with 1k subsidise excess.

We want to sell in a couple of years. Issues about the housing market in 2 years aside (!!), how should we best address this: hope the survey doesn't flag it and keep schtum? Wave the report at any prospective buyers? Show it to their surveyor?

Other than this issue it's a nice 2 bed in SE London, approx 450k but we'd happily lose some value to get it gone.

wowfudge Mon 29-Aug-16 19:08:12

Use the report you've got I'd say - ask the advice of the estate agent on how to deal with this.

SantasLittleMonkeyButler Mon 29-Aug-16 19:12:07

Be honest. Show them the report you have at the start.

That way you'll save everyone a lot of time, expense & possible heartache at having a 4th sale fall through.

Best of luck with it.

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