Short story - would you buy a house that's been used for drugs manufacturing?
Long story -
We've been negotiating with an estate agent & vendor about a property we're interested in. Long story - it's been up for sale for over 10 years (on and off); they were asking too much and the photos were terrible. Rented out in between (vendors own number of properties).
Huge 1970s house; large 5 bedrooms + annexe, big plot in a lovely and secluded location between two listed buildings. Very upmarket street. Conservation area, lots of trees, listed wall at the back of the garden, near a park. Lots and lots of potential. Expensive house for the (fairly deprived) city; at original asking price it would have appeared in one of those "10 most expensive properties sold this year in x city" articles.
The house has been gutted internally and needs complete refurbish; structurally it's fine though incl. roof. We were told by the agent before that the vendors had had "some issues with the tenants that were renting it" and we deduced they had been evicted. Floors ripped out, fireplaces smashed, bathroom sinks smashed etc. You get the picture. We have budgeted for this (and have recent quotes so know what we're looking at).
Our first bid of just under 74% of asking price - which they had told us was based on condition prior to previous tenants moving in so when it was still in decent condition - was rejected; vender counter offered at 85% of original asking price. We went to look at the garden today as it has a lot of trees and we had 2 storms over the weekend, to check if anything was damaged. No storm damage.
Got speaking to the neighbours 2 doors down. Turns out the previous tenants were using the property to run an illegal drug factory and the property was raided by police just over a year ago. They were making pills (fake diazepam) in the kitchen. No cannabis or meth etc as far as we know. No needles (as I was concerned about some lying around in the garden). Apparently forensics were in it for a while investigating - which would explain why the floorboards upstairs have been cut up and all flooring removed.
We have found news articles but they do not mention the street or house name; so you don't find it by searching the address. Articles back up neighbours' story - they're elderly and gave us LOTS of details.
Would you buy a property that has this kind of history? Would it put you off? Would you reduce the value and if so by how much (%)?
Would you have expected the agent to tell you about this?
Does anyone know if we could get any details out of the police by doing a freedom of information request? (basically what are we risking here; and is there anything we should look for eg have electrics been tampered with etc).
We are still interested in the house as very few houses of that size, setting and plot exist in the area we need. But we are now thinking of not increasing our offer by as much as we were planning to yesterday. It would be great to know if it would put other people off as this impacts the value.