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Subsidence affecting house price?

My house is about to undergo structural repairs due to subsidence, I wish to sell it soon after, will it affect the price ?

Asked on Jan 12 2010, General in Sunderland | Report content

Answers (1)

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  • Not always but sometimes! As an agent, I would not value a home any differently which had undergone structural repairs as once repaired professionally the property basically has no problem! Your buyer however may find it difficult to insure the property and be forced to use you existing insurer, which can sometime lead to a wobble during the sale process as some people want compensating for being forced to pay a slightly higher premium and using your insurer! Where as others may just not want to buy it due to the previous problem. My view is a property once underpinned is potentially more structurally sound than one which has not been (my opinion only) but I do not believe it should be valued differently at Estate Agency Stage! The PIQ within the HIP will tell a buyer of a previous problem so they will make their decision wether they should carry on with the purchase or not and their surveyor will then advise accordingly! Hope this helps a little and good luck with the sale! Richard, at Andrew Snape Estate Agents

    Answered on Jan 12 2010, Report content

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