Natural Ground Subsidence - results from a HomeBuyers report??

[nickej82]

Help please!

I have tried searching the internet for guidance on this issue but don't seem to be able to find anything, more than likely I am typing in the wrong search word or not looking in the correct place!

I am looking to purchase a flat and I have had the HomeBuyers report come back detailing the results of the environmental searches.

On the secton 'Natural Ground Subsidence' it has come back as 'moderate-high risk'. It does not explain whether this is on the property itself or within a search radius of the post code (and if it is then it does not detail how big a search area this is).

I am not sure if a) do I need a propert survey or is this just a generic comment within the report for the area? I have done a similar search on the internet (just a free post code search) and typed in my existing post code and it came up with the same result. This was not identified within our searches when we bought the property. b) do I need consider some insurance companies will not insure the property or have inflated premiums?

I don't know whether I am over-reacting to this result or whether I should just walk away from the property?

Grateful for any advice on how to read this report/result correctly!

Many thanks
Nicke (Confused )

[Richard Webster]

Not clear what you mean by a Homebuyer's Report - that is something normally provided by a surveyor who would not carry out an environmental search,

However, in general the comments on Environmental Searches are related to the geological conditions in the general area rather than this specific property so I wouldn't worry too much about it unless your survey report actually reports symptoms of susbsidence. Do not make a meal of telling the insurance companies about it. They will have their own records of dodgy areas.

[nickej82]

Hi Richard,

Thanks for your comments.

The homebuyers report is part of the search pack that our solicitors have carried out not part of the valuation/survey our mortgage company is carrying out. We have not had this back yet but guess as it is a standard valuation it won't look into this?

I believe you are correct in that it is for the area rather than the property as I have done several 'free post code searches' on multiple post codes within the area and they all say the same.

Thank you again
Nicke