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- it will be more expensive to insure
- You have to declare that it was underpinned or your insurance is worthless
- The warranty on the work will probably have expired
- It’s a warrant on the work though, not an insurance against future subsidence
- It’s probably fine but you can negotiate for a discount because if in the future you sell, your buyer will do the same
- A survey can pick up evidence of prior movement but it can’t tell you about underpinning work
- Your solicitor will be of no help whatsoever
- If you know what has been done and what caused the movement in detail a structural guy / girl can eyeball it and give you their 2p.
How much do you like the house? Presumably you were informed of this after you made an offer, which kinda invalids your offer as a significant material fact was kept from you.
- it will be more expensive to insure
Howard
The property I have offered on was underpinned in 2005.
I have viewed the repair certificate after the insurance claim, and it doesnt mention that there was any damage to the foundations, or any repair work either. It says there was some work done to scrape out mortar and replace with a resin of some kind and this job seemed to be quite extensive. The total cost of the repair was £25,000 in 2005!!
The survey I have booked is not going to happen for another week and a half and this has gotten me worried. What does it mean for owning the house? Insurance goes up presumably? Is it possible to insure the house? Do you have to declare previous historical underpinning when getting buildings insurance? Is there a 'statute of limitations' kind of time scale on this sort of declaration?
A builder friend has viewed it in person already and did not note anything looking out of place. No cracks or the like.