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Subsidence

10 replies

inkblink · 12/08/2021 05:26

I would really appreciate your thoughts
In the course of selling my house, which has been rented out, progressive subsidence has come up in the structural survey. I think its very likely the buyer will pull out and I'm in a flat spin about what to do next. It is insured but the thought of sorting it out is overwhelming. I'm worried it will involve months of reports and work with the house being uninhabitable. I'm thinking of trying one of those cash buyer places to just take it off my hands - I know it would be a big hit but I could then walk away, but this is probably daft. Has anyone else been through this?

OP posts:
NeilBuchananisBanksy · 12/08/2021 07:22

First thing is to get your own detailed survey from someone qualified. Don't make any rash decisions until then.

TwoLeftSocksWithHoles · 12/08/2021 10:30

If it is insured I would contact them, they will send a surveyor and if it does need work they should cover the cost (unless you're in a well-known subsidence area)

I believe that ybou can 'assign the benefit' of the insurance to a potential buyer, although it would certainly reduce the number of potential buyers.

I think you would make a massive loss if you went down the 'buy any house' route.

TobyHouseMan · 12/08/2021 16:21

You are just the kind of clients these bandit companies love - they will screw you to the wall and then some.

If it is subsidence and you are insured then they should take most of the pain out of the process. It will just take a little time.

Alternatively, if you really cannot bare the process then have your estate agent market it on Rightmove stating it needs work and invite offers. Everything sells if the price is right. Maybe a local builder would take it on?

AGreatUsername · 12/08/2021 16:44

I think to mark it as progressive they have to monitor the signs over several months? They can say recent movement but they can’t be sure it’s ongoing without checking it’s….ongoing. What exactly have they seen that’s prompted this?

I would get your own structural survey and go from there. As a buyer I would not touch progressive with a barge pole but I wouldn’t be overly concerned about something that had been fixed properly.

Wingedharpy · 13/08/2021 00:35

Don't know if this helps or not @inkblink, but, our house is currently being "monitored for movement" , having noticed some internal cracks ourselves.

We paid for a building engineer/surveyor to come and give us his opinion, and he said he thought we had some degree of subsidence and to pass the issue on to our insurers.

Finding the cause of the movement is the main thing and then preventing the issue worsening is the next.

I felt overwhelmed too at the start but I have to say, our insurers, up to now, have been excellent.

We're in the process of having 4 months worth of movement readings/measurements being done and then they will deliver their verdict of whether this is an ongoing issue (sincerely hope not) or if it is historical.

You have my sympathy, as you have the added problem of trying to sell which we don't - yet.

As others have intimated, your property will be difficult to sell with this issue on going - or you may have to practically give it away, to get someone to take it on.

If your circumstances allow, personally, I'd take it off the market if your buyer does drop out, and get the issue sorted, then remarket it - and the price will have to reflect this has happened, even if it's sorted out.

I feel your pain.
Good luck with it.

RosieLeaLovesTea · 14/08/2021 01:00

@Wingedharpy

Who are you insured with if you don’t mind me asking? Thanks

Wingedharpy · 14/08/2021 01:31

@RosieLeaLovesTea : Rias is our insurer Rosie.
They sort of subcontract to other companies to do the assessing, monitoring and donkey work but we have, so far, had as good an experience as one can possibly have considering the house is falling down!

inkblink · 14/08/2021 10:22

Thank you, that really is helpful. I've managed to calm down a bit - I hope its all going to be OK!

OP posts:
Arizonadave · 14/08/2022 17:47

hello
I have just been through dealing with subsidence in my house built early 2000’s.
To begin with I felt absolutely devastated but having spoken to some structural engineers and my insurance company it was dealt with. The thing that struck me the most is that how common this is in the south of England.
My house was not affected badly just internal cracking in the plasterboard and one area of re-pointing outside.

prou · 19/05/2024 23:47

Hi @inkblink how did it all work out on this? Thank you.

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