Is this concrete ex council overpriced?

[ForkoTrader]

www.rightmove.co.uk/properties/123661040

Interested in opinions, I'm not experienced but based on what one of their neighbour's sold for in Jan and the current climate, it's at least 30k over priced?

Are 'not standard construction' houses to be avoided like the plague anyway? (We would be cash buyers so no mortgage needed)

That would be 80-100 grand cheaper up here. Is it what you want though? I don’t know the area but if it’s where you want to be, is there anything cheaper there? Steel concrete have never had a problem shifting in my area

Depends on what it's made of. Down here in Cornwall we have mundic block which is made of concrete mixed with old mining waste. It's the constituents of the mining waste that are the problem - some of them react with water and degrade, whereas others are fine. So we have Class A concrete (fine, mortgageable), Mundic AB (not degrading, might never degrade), B (OK at the moment but likely to degrade, avoid), and C (already degrading, avoid).

Ask the estate agents why it's cash only. They might have a concrete report to hand. Also it might only be part of the house that's affected - in a friend's case it was just the chimney; the rest of the house was fine.

Difficult to say as it depends on your market. That would be £500k+ in York

what do similar in the area go for?

It looks like they've done quite a lot of work since they bought it. But I would also be asking why they're moving already.

The agent blurb says cash buyers only, so maybe unmortgageable due to non-standard construction.

Thst near me in London would be £500,000

It may be fine for you if as a cash buyer but I’d worry about the limited market for resale if lenders won’t give a mortgage on it.

That wouldn't even buy you a flat here so it seems a bargain.

How much cheaper is it than other similar sized properties in the area

It would have to be significantly cheaper to make it work buying due to potential issues selling it on

Hi sorry for delay in replying! Equivalent non-ex-council would be about double the price.

Being non-standard construction and therefore unmortgagable is probably the main reason for this (as well as the fact it's in a council estate etc).

I was wondering if anyone had any experience with these builds - do they actually tend to start cracking etc or is it more just that lenders wont take the risk etc

A friend bought one a few years ago. They were able to get a mortgage, albeit from a specialist lender. No problems with the house.

I'd worry that if this one is definitely unmortgageable, there's an issue with it.

What about when you come to sell? You’ll possibly need to wait for a cash buyer. And how well insulated are these houses?

Has it been tested for what's known as "concrete cancer"? If it has then that may be why it's unmortgageable.

That would be about £50k more in my immediate area but £80k less about 5 miles away across town. Really difficult to say unless you know the specific area well.

I know that locally non standard construction houses always go for much cheaper than others of standard construction. Even as a cash buyer with the house being in fine condition now, I would worry about the difficulty in reselling it.