Found out devastating news about house we are about to buy, Should we pull out?

[Welikethemoon]

We were all set to move, got everything in place, went for second viewing to show our daughters thier new house for the first time. Owner was there so I asked her about the flood risk which has come up as surprisingly high on the survey. She looked shocked and said she thought we knew it had been flooded twice in last 10 years but flash flood rain water run off and also before she moved in. She had instructed estate agent to tell everyone who viewed. We have had the offer accepted since April, estate agents just told me, sorry they "forgot" to tell us. Now don't know what to do. Thus was supposed to be our "forever" home, that had everything we needed. I have a very specific list of things I wanted and this ticks all the boxes, there us nothing else currently on the market that comes close. It's a significantly bigger mortgage than current place. I don't want to move again after this. Seller has said she has put in extra drainage since the last flood, but it hasn't been tested in similar conditions since so no guarantee it would work. Plus with climate change its more likely to happen.
Husband still wants to move, I'm not so sure. What would you do? AIBU to pull out now, risk losing our buyers and wait for a better house to come on the market?

I meant uninsurable

but in mortgage searches which they will do separately to you - this will be picked up

Did you declare the flood history for the insurance quote? Honestly, it isn't worth the heartache. It isn't just water damage, nasty stuff comes with it. Run. Thank your lucky stars that you have found out before the contracts.

If it alluded to a high flood risk then that's enough surely? Either buy it and get flooded or don't buy it and find somewhere else

Run.

I wouldn't touch it.

Imagine every time it rained, worrying whether this would be the time it flooded.

I just wouldn't want to live with that stress.

Never mind the potential financial implications.

Upthread It was more than “alluded to”

it was

”high flood risk” and op said she didn’t pursue

the op is now back tracking

Flash flooding is set to be more frequent and more severe btw, due to climate change and over development.

As someone who used to live in a property in an area prone to flooding, I would pull out.
Worrying every time it rains is no joke!!!!!

In that case OP what was the point of having the survey done?!

Run for the hills op - and go and live up one! x

Not for my DH, he still wants to buy it, I don't think we should. In case you hadn't already guessed I'm using this thread as evidence that we probably shouldn't buy it! He might listen to 200+ people all saying the same thing when I show it to him later. 🤣

It's not. You need to phone the companies to ask about the specific set up. There are insurers that might take the risk but they are more expensive than that.

He's an idiot

he still wants to buy it

Tell him to actualy speak to an insurer on the phone and see what they say. It may indeed be unmortgageable and its value should have been decreased by at least 30% as a result.

Sorry, but I’m another for pulling out. And I don’t think the EA ‘forgot’ to tell you something so important - I’m sure they have an obligation to tell you if it’s flooded in the past, and surely they would have known that it would come up on the survey and in the conveyancing. Insurance is likely to either be very high or you may even be refused, depending on the likelihood of it happening again. I wouldn’t touch it with a barge pole.

Yep, I'm a grown-ass adult with 2 kids, and a science degree, pardon me for not being totally on the ball with every aspect of buying a house, it's not like I do it every week, the one and only time was 13 years ago. Sometimes I like to ask for advice and others opinions. It must be nice to be so high and mighty and not ever need to do that!

I’d be very worried if he doesn’t listen to his wife and joint buyer but rather an anonymous parenting chat room

But given he still wants to buy, I wouldn’t be surprised

It was explicitly written in your survey

High flood risk

Further to my pp My flat is one of a courtyard near the river We now pay a ridiculous service charge as the management company had to go to a commercial insurer as a last resort
It flooded once 7 years ago
Domestic insurance would be even more difficult
Show your DH the words " high flood risk"again!!!

Plus your mortgage offer could be withdrawn

I echo what many have said, and recommend that you look elsewhere; my friend lives in Fishlake, Doncaster and went through hell last year. Lots of talk from the Environment Agency but very little action. Folk from their village have been unable to sell and have faced unaffordable insurance premiums. For your long-term peace of mind, avoid this house. Better a limited disappointment now than protracted weeks of ruination which she and her family suffered. Her children still have nightmares now.

Surveys don’t “allude” to anything

We did, last week which alluded to a high flood risk, bit no specific details. It was only by chance that I questioned the vendor about it at the weekend, she thought we knew and estate agents clearly weren't going to tell us.

And even if was alluded to, begs the question why didn’t you look in to?

this isn’t about experience
it is about common sense

Oh god OP don't do it.

The only way I could maybe understand you still going ahead is if you were getting the property VERY cheap (but was still insurable). Even then I still wouldn't do it, but I could understand your reasoning, as it would be a trade-off.

But you are paying the market rate (or maybe even a little above) for a dud property? That's utter madness. I know you love it, and it is crushingly disappointing, but I don't think you're thinking straight here.

You don't buy a house anywhere near a blue line, let alone one covered with a dark blue one!

Yes, if you're buying the house OP then you can just say no. You shouldn't need to even justify it.