Any avid eBay sellers?
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30 years ago you could buy and sell houses that had been underpinned without too much worry as long as the paperwork was in place. Huge swathes of Victorian and Edwardian, and occasionally between the wars, properties are underpinned in SE London. Many after the 1976 drought and no doubt following the increasingly common droughts we are seeing in recent decades due to climate change. First issue was when insurers got funny, Direct Line I remember, wont insure many SE post codes. I'm not sure why there is more concern now, although five subsidence claims is quite impressive. As others say if is it discounted and you are prepared to take the risk... Not sure what others think of structural surveys, difficult here is that you need to monitor movement for six months or longer. And older properties will move slightly with the shrinkage and expansion of the clay. Most are out of true (look at how square original door ways are); some would have moved following bombing in the blitz. Odd how much we invest in a pile of bricks that will age and deteriorate.
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By womanofdulwich · Posted
You have to think to your self, if I buy this, will I have problems selling it? Ofc.you will. These kinds of properties are difficult, and although it may be reflected in the price, it will always be hard to sell. Stay clear. -
Price reduction reflects risk.
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I don’t expect any seller to agree to a price reduction — most of them feel it’s like robbery. For example, I was buying a property on Darren Road. They asked for £870k, I offered £830k, they rejected it. Then I offered £840k and they accepted. Later we discovered party wall issues, so we didn’t want to proceed unless the price was reduced to £780k. The seller refused and told us we were dreaming,we immediately pulled out. In the end, the house dropped to £730k, then £670k, and I believe it eventually sold for around £670k. This is a stage every seller has to go through, so I don’t bother arguing. If it doesn’t feel right, I just walk away.
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East Dulwich Forum
Established in 2006, we are an online community discussion forum for people who live, work in and visit SE22.
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