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  • Buy-to-Let

    Property with movement

    Hope I can get some advice on this one - I have recently had an offer accepted on a property which a previous buyers survey showed had movement. The owner has since carried out repairs and is willing to provide evidence of the repairs. If I decide to move ahead then I will get a structural survey done myself. My concern is that it is possible the structural survey will not pick up the issues as it is possible the the seller did everything he could to hide the damage. It is also possible that he did repair the damage properly.

    Not sure whether I should risk going ahead.

    If I get a structural survey done and it comes back without issues, then does that mean it is fine to move ahead. I read an article about a survey that did not pick up any issues on a property and now the owners have to deal with endless issues, not sure whether that was a structural survey they did.

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    Avoid!

    There will be plenty of other properties with out any problems

    Doubtful any lender will offer you a mortgage

    Then when you come to sell!?

    These sorts of properties are the province  of cashbuyers who will buy BMV

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    Hi Paul,

    Thank you for your reply. That makes sense. The last thing I want is to sit with issues in a few years time.


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    Yeah definitely avoid as Paul says, you never know what else might arise from this - can't sell, lender problems, etc.

    I made the mistake of buying one with structural problems years ago, luckily I got rid of it at an auction and still made a profit! Count myself very lucky though.

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    I am a human bean.


    Hi Bean,

    Thanks for the advice. I actually told the estate agent today that I will pass on that one.

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    These sorts of properties tend to be bought by small builders who know how to deal  with issues and can do so using their own sweat equity to make the deals stack up.

    For a LL  to buy in services at retail prices very rarely makes economic sense. .

    Small jobbing builders tend to become LL  effectively forcibly appreciating their skills into property that they buy BMV



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    Hi Paul,

    A builder actually put an offer in on the property and had it accepted. Definitely not one for me. I will continue the search. Thanks again.

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