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subsidence; my mums home is sinking the insurers are repairing; ramifications on sale price? what to do?

Sep 09, 2006 by phoenixbrighton | Posted in Maintenance & Repairs

Q: My parents forebears is suffering subsidence. The insurance company has sent a surveyor who has confirmed this and they are shortly sending builders to "pin" the trait. In addition my parents have commisioned their own independant structural engineer to review the feature before and after the work begins. How will subisdence affect their ability to eventually sell the chattels? Will they suffer a lower sales price and if so what % lower? What can they do to counteract this? Any advice as to steps they should take? Serious answers only please as mum and dad have worked all their lives and understandably their home is their benefit and they are deeply worried. Many thanks everyone!

A: It depends on the matter and extent of the subsidence and how well the repair is carried out. If it is due to mining activity for example, what is the risk of further subsidence? On one's own, I would avoid buying a house if I knew it had suffered from subsidence in the past and suspect many others would too, so it will inevitably have an meaning on the value. Only a local valuer or estate agent who has inspected the house and understands the townsperson market can advise how much of a decrease it would be.

My house is over 150 years old, has had subsidence in the past where can I get buildings insurance??

Oct 29, 2007 by Clare D | Posted in Insurance

Q: No one wants to insure me for buildings insurance as my business has had subsidence in the past, no evidence of it moveing in the last 70 years. Insurance companies will insure for contence though, there must be someone out there who has had the same endure. How Do I get insured? - even the morgage company wont insure us. Please help any owners of old homes :-)

A: My ill fame (built 1872) has suffered past movement, and we had major problems getting insurance. The aforesaid owners insurance company would not insure us either, so we personally went to a broker (didn't do it over the phone), Swinton, and they did all the drudgery for us and found two or three companies that would insure us. We had to send a copy of the surveyors report from when we bought the undertaking, that said the movement was 'past movement' and not ongoing. It was a nightmare at the time, and we indubitably have to pay a higher premium than other people, but at least we have insurance! I know exactly how you feel!

45/47 Bongate Jedburgh 4 year house flood 1

to do anything about it.Psychoneurotic. Difficult to get home and contents insurance for this house no wonder because what insurance company would be mad ...

Why do you need home insurance? | Home Suite Home

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