That sinking feeling
17th November 2008
By David Lawrenson
If you are buying a property with a history of subsidence what assurances should you get and from whom before you go ahead and buy it?
What warranties might the previous owner might give you ...and how do you gauge whether they are worth anything, what possible future claims might you have if work was done by the previous owner to rectify it and what are the implications for buildings insurance cover?
If you mention the word subsidence, it is likely to scare off all but the keenest buyers.
And if you are a buyer, it may scare you off too; but, then again, if you understand it properly, it may enable you to get a bargain property which has nothing much wrong with it, simply because all other potential bidders have been suitably scared off.
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