offering 25% less on a property

[Abbienurse1987]

i have a question. i am interested in purchasing a property. i have fell in love with its age and quirkiness it was built in 1870 and has amazing old features, 4 bedrooms and very large. however, they are asking for £179950. now here are the issues.

1. it has a mine shaft in the rear of the garden within 20metres of the house.

1. its been on the market three years and hasn't sold.

1. it has damp, needs damp course and replastering throughout.

1. needs a driveway built and garden maintenance.

1. no one has lived in it since it went up for sale

6.needs new rads and boiler eventually

1. they have 2 extensions with flat roofs that are collecting water and causing damage. need replacing.

1. also new windows and kitchen

lets just say needs about £40000 pounds spending on it. which i don't mind i like a doer upper.

am i within my right to offer £40000

i feel cheeky

thanks very much xx

i have to say that these photos were taken in 2014 when it was first put on the market. it doesnt look like this now.

If it's been on the market for 3 years with no offers, I would go for it - so long as you're either a cash buyer or certain that you'll be able to obtain a mortgage on it.

i dont know if it has had any offers or not as yet. but it has been on the market this long. thar doesnt put me off its not really an affluent area, people cant really afford homes in this area. of course my next stage is whether i can get a mortgage. i have read mining report its more positive than i thought xx

We are nosy buggers on here

It's very nice. Exactly the sort of thing I'd Go for.
I'd bet money that the sellers have been holding out in an attempt to recoup their money. Last sale was in 2006 for £170k.

Lots of houses near me are overpriced and upon investigating have been bought at the top of the market which has never recovered around here.

Offer on it and good luck

thanks so much for your help

It looks great, although I take your point that with no-one living in it for so long, it may look worse now.

Interesting to see they have a summerhouse in the garden - does that denote the entrance to the mineshaft?

i said that. lol.that is literally where it is. so far from house. maybe i have my own bunker for world war 3

Actually, if the current owners bought it in 2006 that's quite positive. It suggests that it was at least mortgagable at that time.

Now that I know it was last sold for £170k though, I do also wonder if selling for much less would leave negative equity? 2006 was still the 100% interest only mortgage heyday wasn't it? Or maybe they just don't need to sell very quickly and are happy to hang our for asking price.

You've nothing to lose by offering whatever it's worth to you though. You won't know unless you try.

I've house! We considered viewing it as it's beautiful and right our street just a bit too close to Dudley

maybe i have my own bunker for world war 3

Could come in handy .

Don't forget that the recorded location of the mine shaft will show the centre point - it could be several metres wide. And the records aren't necessarily accurate. Years ago the Coal Board had regional records offices that had fantastic local knowledge, much of which was lost when the records were centralised.

How it the shaft has been backfilled and capped (and when) will be important, but the lack of subsidence in the property and neighbouring properties is encouraging.

I found it too - looks great!

Please do let us know. The estate agents are likely to pressure them to accept - must be desperate for commission by now!

Ok, I've found it. It looks in better condition than I thought from your description. I like it.

sorry did you mean you have considered viewing this house

We've bought now, don't panic

sorry guys those photos were taken in 2014
it is in a worse state of repair now and the owners have let the maintenance go
.no gas or electric on so damp and wet

A completely different house too..

My first post should have said 'lovely house' not I've house

no palomb would of been interesting to know if anyone else had viewed it. the parking issue os a big problem for buyers id say aswell

I can't help thinking that if it hasn't sold in 3 years either there is something seriously wrong with it or the owners are not open to offers.

the mine is 1.5 metres by 1.8metres i think

Yes and I remember saying to dh that I wouldn't want to tackle those steps in the dark or when it was icy.

thats what worries me soupdragon. i literally think if others have viewed it. that its a combination of price, busy main road, parking, mine shaft and work that would need to be done.

i went to view it today and its that overgrown i was almost descalped by a thorn branch

the mine is 1.5 metres by 1.8metres i think

Is that the dimensions of the cap?