Whether you’re buying or selling a property, you cannot afford to hide away from the problem of subsidence.
We all know it’s a bit of a dirty word in the world of estate agency, but it’s something you cannot get away without tackling.
If you’re selling, you need to be upfront and honest about it and if you’re selling you need to go into the situation with your eyes wide open.
Of course, the severity of the issue can vary vastly from property to property. Either there are just small cracks in the walls or there are much bigger problems. So the first thing you need is to pull out all the information that you have regarding the problem and any past repairs.
We often recommend organising for a structural engineer to come round to diagnose the severity of the problem. It can cost from as little as a few hundred pounds and means you get a professional report which will satisfy mortgage brokers and insurers.
If the issue doesn’t need to be worried about, this report will articulate this in writing for you and can be passed onto your buyers to alleviate any fears. If it’s not a problem, you need the documentation to show what needs to be done to remedy the situation so that you can get some quotes to pass to buyers.
There are other things you can do to set your buyers’ minds at rest. As well as the report, you might want to provide invoices on any work done and a confirmation letter from the insurance company stating they are happy to continue insuring the property.
Approached in a logical and thorough way, subsidence is just another one of many issues to do with a property that need to be resolved to a buyer’s satisfaction. As long as you follow our guidelines it should still enable you to get a successful sale. And there is always the option of selling at auction for really severe cases, but as a general rule, this won’t be necessary.
If you need any further advice about subsidence for a property you’re either buying or selling, just call us on 01992-878580 and we’ll be happy to advise you.