Property News · January 5, 2017

Should we buy a property in an area of coalmining subsidence?


We are awaiting a full mining report and have had a structural survey, but know we risk insurance being far higherQ We are in the process of purchasing a property and have a report that states our property is within 50 metres of coalmining subsidence claims. We’ve had a full structural survey done, which says there is no evidence of current subsidence, but are awaiting a full mining report for the area. We want to know if this will affect the value of our future home. Also, if we go ahead with the purchase should we ask for a reduction in the sale price in view of the fact that it will cost us significantly more to insure? AFA Anyone buying property in a former or current coalmining area is strongly advised to do a coalmining search. Property near to both past and current mining activities can be at risk of subsidence because of being on unstable ground. If your solicitor doesn’t automatically do such a search, you can do it yourself using the Coal Authority’s online search service. Continue reading…

Source : theguardian.com
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