Neighbour maybe doesn't realise house is concrete WWYD?

[lineylines]

My neighbour has put their house on the market. It's a normal ad.

However, their house is concrete construction. Definitely - not only is ours, and the houses look the same, but theirs in a semi and the one next door (that it's atttached to - effectively the other side of the same house) sold last year, and the ad clearly said "cash buyers only as concrete construction".

The price they're asking is normal for a standard construction house round here, but they're not going to get nearly that for a conrete house. The one next door sold for £75K less than they're asking.

I'm trying to work out whether I should say something to them.

If they already know it's concrete I guess it's none of my business really. It's very unlikely a buyer won't find out as the houses on this road are flagged as "possibly concrete construction" and it will be hard to get a mortage. Unless someone buys cash, I guess?

But if they don't know, then it's going to be a nasty shock - they may find out once they've offered on a new place and then their buyer's mortgage falls through when the lender finds out it's concrete.

Lots of people here don't realise about the concrete I think as this is an ex council estate and some of the houses were bought ages ago and passed down families.

I don't know them well, they keep themselves to themselves.

Should I say something to be neighbourly? Or stay out of it? WWYD?

I'd stay out of it!

I wouldn't. They'll soon find out as like you said it's unmortgageable and any sensible buyer gets a survey.

Stay out of it.

Keep out of it. Why be the bearer of bad news?
If their sale falls through, AND they come to you, outraged and/or looking for a hand hold, you can offer sympathy and be the good guy.

Call the estate agents

I'm sure their estate agent let them know it's prefab if they didn't know already.
Not really sure why you think it's any of your business either way tbh, bit odd unless you were hoping to put an offer in?

They will know. Let them get on with it.

I live on the other side of the world so don't understand the issue with concrete homes. Is it because they would be susceptible to crumbling due to age? What about old original rural homes built of concrete - how do they work for insurance and mortgage purposes?

Stay out of it. You won't win any brownie points for telling them.

@SueblueNZ prefabs here were only supposed to be short term homes, made post war to support the rising population/baby boom and were unfortunately made with untypical and potentially dangerous materials if disturbed such as asbestos, so any changes or remedial works can be significantly expensive.

Personally I'd phone the agent to make an enquiry (without disclosing you're a neighbour) and ask why it's priced this way when the construction is common knowledge.

Prefabs are a different issue from the concrete "non-standard construction".

Eh? They're not going to come running to me for sympathy!

And why be the bearer of bad news? I'd rather someone told me, than I found out when I'd already set my heart on a new place, before it all fell through. THey may have spent money on surveys at that point or other moving costs thay could have avoided.

This. These aren't pre-fabs. But they are made partly of concrete, partly bricks.

How did they manage to buy the property themselves? Surely they would have had to have been cash buyers too, so must be aware of the construction

Why do you care?

Surely they already know?

It's really not for you to be the giver of a shock IMO. It won't be forgotten.

Should come out in the surveyors report then and anyone buying with cash will have a heads up anyway wouldn't they?

Yes, that's exactly it. They are suscptible to crumbling due to age.

The older they get, the harder it is to get a mortgage on them. I've heard it's very difficult now.

I didn't realise mine was concrete when I bought it - I only found out a while later, due to bad luck and also naivity on my part. I'd sell if I could, but I'm not in a position to sell just now.

I've been keeping an eye on sales as thought it'd be hard to sell, but the other one across the road went within weeks. I spoke to the estate agent out of curiosity and I was surprised when she said actually they sell well, as they're basically the cheapest familiy homes in a desirable part of town (where the good schools and nice parks and shops are) bg a long way.

And so, they get bought up by landlords who can afford to take the risk as they'll get a good return and families who are stretching themselves to get a cheap property. But only at a low price, not at the price the neighbour is asking.

That's not true for all concrete construction, they can be very hard indeed to sell - we're just lucky with the location.

Isn’t there a test that is done? Some concrete is ok and mortgageable, but others are not.

I’m sure you have the best intentions but it’s none of your business how the property is described or marketed.
If a potential buyer has any sense they will commission a survey. That will draw attention to such matters. Caveat emptor.
If the potential buyer is local, it might be common knowledge the houses are a mix of concrete and brick ?
Are they “Cornish Units?” If so, the construction should be pretty obvious to interested parties.

I'm not sure, they were here much longer than me. As I said upthread, many people here have inherited houses which their families bought from the council through right to buy many decades ago.

Also, for those who bought some time back, I wonder if they just didn't realise as it wasn't such an issue with mortgages several years ago.

Also, I have a neighbour with English as a second language who bought a similar property round the courner and didn't realise the significance of concrete.

And, I was a cash buyer and for one reason and another (which I don't really want to go into as I'm so angry with myself about it!) I didn't realise until some years after I bought it that it was concrete.

a house is worth what someone is willing to pay. Maybe the neighbour and estate agent know and are testing the market? Maybe they’ll get a cash buyer, set a new ceiling price and you’ll be able to sell your house for more? I wouldn’t get involved.

I sold my concrete house within 2 weeks of it being on the market. The banks know the type of house they are lending on.