Buyer Pulled Out Due To Structural Issues on Survey - Gutted

[DreamHousehelp]

Our buyer pulled out today because the survey on our house wasn't great.

It indicated some structural movement, including cracking, evidence the corner of our house has sunk. Other bits and bobs on the survey that have been a bit inflated, but that's the main one that spooked him (understandably).

We're involving our insurance to look at this (thankfully we're covered), but I'm terrified what it will mean for us when we come to relist our property.

Anyone experienced anything like this? I'm scared we won't be able to sell in future or would need to make a massive price reduction to do so.

Unfortunately it will have implications as you will clarify that history of subsidence

Similar problem with a house I was selling.
I remedied the faults highlighted and supplied a copy of the survey with a follow up structural engineer's report to the estate agent.
Clear and honest.
Pain to deal with and of course costs time and money, but once it was sorted, the house sold quickly.

*We're involving our insurance to look at this (thankfully we're covered),+

so they are going to underpin?

Thank you, that's reassuring to know!

Don't know yet, awaiting on the insurance to do a structural survey.

I suppose it might depend on what has caused the subsidence. Our current home had subsidence about 10 years ago caused by two huge trees, which were removed and it was fixed. We didn’t give it a second thought during the purchase process.

So you don’t know whether covered or not.

We've explained to our insurers the issues and they said we're covered.

But how do they know the issues until they have done a full structural survey?

I can only go off what the insurers have told me so far, which is that we're covered - do you have any experience with structural movement?

They don’t need to know the extent of problems
If the policy covers subsidence for example it covers it
The next stage is to have that investigated and repaired.

No thank goodness

but 15 years experience on insurance

and I know that acceptance of a claim such as this isn’t given until investigations have been completed

The investigations is to determine whether subsidence or something else.

@DreamHousehelp how long have you owned the house? Did you get a survey when you bought it?

I wonder if you're owed any compensation?

But that aside, re read @IvePiercedMyFootOnASpike & hopefully yours will be the same.

Well yes obviously
However
If the insurance company have stated subsidence is covered. Then it is

If it’s not subsidence and something else then the previous surveyors were wrong
Thats a different matter and OP can revert back to the previous surveyor

Ok. I appreciate you're advising me to be cautious with the insurance company, but I can only go off what I've been told. I'm interested in how others having been affected by similar experiences with structural issues so will kindly ask that this thread is kept on topic. Thanks

OP
What type of cracks are the surveyors referring to as evidence of subsidence
Vertical, hairline, stepped with the mortar ???

Ps.
How old is the property
Has there been any building work etc in the immediate area since you bought

They're stepped cracks with the mortar. My DH is wondering if it may be failed wall ties, but the bit about the corner being sunk is obviously worrying.

I unfortunately had experience of this in my second property. I was originally promised by insurance company that I would be covered and felt hopeful, but had the rug pulled from under me at the next survey they had done. I had to pay £24,000 for repairs and my property finally sold 8 months (!) later for 23% less than originally advertised. Praying it works out much better for you. It was a difficult time with phone calls to all and sundry and reading fine prints. Wouldn’t wish it on my worst enemy.

Property is 1930s. No building work that we're aware of - it was underpinned in the 80s due to some internal cracks but nothing at all like that since.