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?

Your forever home would need to have a spartan downstairs so that you're not replacing flooring/furniture and crying over destroyed keepsakes every couple of years.

The house has flooded twice in the last 10 years. It is going to flood again. The more trees that are cut down for housing, the greater the risk of floods and councils are still granting planning permission for greenbelt land. That's thousands of litres of water that's running straight down the system into overworked drains and rivers instead of being soaked up by the ecosystem.

I'd definitely pull out and lodge a claim for lost monies with the estate agent who mislead you for the sale.

Op if you found one house with all of your criteria, there will be another …

I wouldn't buy it, as others have said flooding is likely to increase over coming decades due to climate change and you want this to be your forever home...

I'm surprised you got the mortgage, to be honest. For our current property (Scotland, so home report) the home report did not mention flooding (although the town has been subject, hence large flood defences being built, it's river flooding). However, the mortgage lender's valuer made a big song and dance (clearly not knowledgeable about the area) and they were making a big deal about the property being subject to flooding. The insurers (same as the mortgage lender) had no issues, probably had better info! We only needed a small mortgage so as not to use all our savings and have a bit of a fall back for work, so we didn't take the mortgage in the end. We moved in on a Friday, on the Monday the lender texted us to say the mortgage had been approved anyway. Yeah, right, no dice.

Anyway, happened to talk to a lady in the street a few months ago (we've been here 5 years now) and she said the last time the street was flooded (not necessarily the properties) was before the end of the last century. So 20 years at the time we bought which is their cut off question (I think 10 years even, possibly).

Long and short, you have to disclose for mortgage and you may not get it even if there is now an agreement in principle.

Swim away. Quickly

I’m surprised insurance would even cover the property to be honest? You’d likely need to go to a specialist company

Sorry - run run and keep running.

And your buildings insurance will be high. Some companies won’t even consider you. It’s a silly risk to take.

Sod that! Pull out now, this is not your forever home.

Definitely not a bargain! We may have payed a little over the odds because we loved it 🙁. It's at the top end of our mortgage possibilities, affordable but not by any means cheap

Drama llama

second viewing?! I thought it was day of completion!!

My DH works in energy, environment and buildings. When he bought the house we now live in (over 20 years ago) he made sure there was no flood risk.

Climate change WILL make it more likely to flood.
Think long term, not short term. Don't buy it. Sorry.

You would have had a survey and this would have highlighted immediately fact in flood risk area

solicitors instructed and payed for, already doing searches ...

Ah, okay - so if searches are not yet completed that would explain why this has't been flagged up "officially" yet

I suppose you could wait to see what they say, but do be aware that once even the slightest risk's been identified, insurers tend to big it up in the hope of making more from premiums and then refusing any claims

Reported for its frankly denialist nonsense.

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.

Would you get a mortgage on it? Builders need to stop building houses on flood plains, it's a nonsense. And the flood defences built recently can be very good, but sometimes all the rainwater that would drain into the river and away now can't reach the river so where's it supposed to go?

Too many house for the size of the drains as well (not necessarily relevant in your case!)

Nope. Don't buy it. You'll have real problems insuring it (massive premium if at all).

And do you want the worry every winter of it happening again?

There will be another house. Don't waste your money on this one. And ask lying estate agent to repay any fees etc.

Did the flooding not come up during the survey? Or was the surveyor employed by the estate agent?

I am a surveyor and I would pull out.

Not least because It will be difficult to get buildings insurance.

I was hoping everyone would ignore that comment, due to the problem of belief perseverance (you tell someone they are wing in their beliefs, using fact based evidence, and it just makes then more determined to cling to their beliefs)

I would want more details, as in does it come up the drains in the house? Where does it get in if it is surface water flash floods? Is the water company doing anything about the drain?

It wouldn't be a deal breaker for me.

My house had a history of flooding, around every 10 years ish where freak conditions cause the river at the bottom of the garden to food. Since moving in however we've been flooded 3 times in flash food type conditions where the main drain has been overwhelmed so our yard has acted as a swimming pool, water has got so deep it came in through the door and also came up the drain in the downstairs shower.

Why it isn't a deal breaker for us:

You can do things about it. We changed the air bricks to ones that seal themselves against water ingress. We have a flood defence barrier fitted. If you splash out a little your door or gate can be a flood defence one that looks just like a normal one. This greatly reduces risk of water ingress.

The water company have also installed a non return valve on the drain from our house so if the main drain is full it will stay shut and nothing will come back up to us and up our drains. In addition they now have the main drain on a regular inspection and clearing cycle.

Depending on the usual route of the water too you can plan your home around it and think of flooring and furniture that won't get damaged.

However, if mitigating isn't possible then it would have to be a no.

As @NoSquirrels says it specifically asks about flooding on the property information form which your solicitor would have received and passed on to you.
Have nearby houses sold recently ? Can you get insurance?

Personally I wouldn't risk it, but if you decided to go ahead you should definitely check insurance availability and cost and you should think about a lower purchase price. Imagine you had found out at the start would you have offered, if not then pull out, it's the agents fault

I don't think I'd go ahead with that recent flooding history but it might be worth asking for more details.

Would there be any comeback on the agents for not disclosing it? Maybe refunding what you've already spent if you pull out.

I think you'd be crazy to go ahead.

Even if you think it's manageable and you get a half-reasonable insurance quote it's still going to be hard to sell if you ever need to.

Who's to say to flooding won't get worse?