After finding a property that I liked for my next PPoR, at the open for inspection I noticed serious cracks in the front of the building, the cracks appear to go through the wall to the front bedroom.
I’m aware subsidence can be caused by soil movement, sewers and tree roots. Looking at the property from the street, the whole building slopes to one point, and the front door is visually out of square. There are obvious signs of previous (badly done) repair attempts. I don’t think this is a minor case.
This property is not the bargain of the century. Am I right in thinking this is a deal breaker? Subsidence often means no insurance, no insurance = no mortgage.
I feel sorry for the vendor, who will surely find it hard to sell to a buyer without a mortgage – it’s a million dollar house in crows nest nsw
is that the same place that you were looking at a few weeks ago?
As for the subsidence, will it require underpinning or partial demolition? Crowy sits on shaley clay so it is a reasonable foundation material. It may be poor footing design or construction.
How wide are the cracks? > a few mm indicates a severe problem.
No, the other property fell thru. $40k difference between my best offer and what the vendor would sell for.
The cracks are at least 5mm wide. Oh well, scratch potential property number 2. I wonder what the average number of houses people reject before buying?
You must be logged in to reply to this topic. If you don't have an account, you can register here.
