Buying A House In London That Has Been Underpinned
When you finally end your real estate search by finding your ideal property, you know that it is within your budget and then decide to put in an offer, you then have to undertake the seemingly endless wait for the surveyors’ report. When it comes back and tells you that there are previously done underpinning foundations on your new London property, the question is then whether you still want to go through with the purchase, or does the previous underpinning make you think again about the entire property?
With work that includes underpinning foundations on London properties, it is really important that any work done by underpinning contractors comes with all the right paperwork and written guarantees that are industry approved and accredited. Any would-be buyers should confirm that the groundwork contractors did work that was officially passed by Building Regulations or they may have difficulty if further work is needed.
For people who really want to buy a specific property, and want to make a serious offer, a full structural survey being carried out so you know exactly where you stand is the best advice we can give, as this will identify any underpinning foundations the London property may have or any work done by underpinning contractors.
During any house purchasing process there are a lot of things to consider, but one of the main things you should do is to find out if there has been any underpinning foundations done at the London property and, if so, what impact this may have on your buildings insurance premiums.
If a property has been treated for subsidence in the past, this can increase the payable insurance excess you’ll be expected to pay if further work or underpinning foundations are needed. Idf this is the case with underpinning, London buyers are well within their rights to negotiate on the buying price, especially if you were unaware of the subsidence before you made your offer.
When selling a home with underpinning, London homeowners can have trouble getting the higher asking price, but buying a house that has been underpinned previously isn’t all bad, as long as the work has been done by professional underpinning contractors in London.