Independent Survey for Property

publication date: Nov 17, 2011
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

Independent Survey for Property

Property with Possible Mine Shaft

We are regularly answering consumer property questions for FREE via our Property Forum.

Here's a snippet of just one of the many property questions we have recently answered:-

Q - We are looking to buy a house for investment and found that there is an old mine shaft 5 metres away in front of the next door neighbours house. According to the Coal Authority report it has a depth of 116m. The report does not show in what direction the shaft goes, so we cannot see if it's under our house.

My question is, we are buying this house as an investment to sell in 5 -10 years time after it has appreciated in value. It is a 5 year old house in a new estate. Will we have trouble selling it with this mine shaft issue if people cannot get a mortgage due to the mine shaft being close by?  SEE THE FULL QUESTION HERE

A - There are two things to consider, firstly is whether it actually is a problem or not and secondly whether it will, as you say affect future buyers.

On the first point, have you had an independent survey carried out by an RICS surveyor (ie NOT just a mortgage valuation)? If you haven't, it would be wise to have one of these done and you should get someone who's local and knows the land/coal mining issues to give you a well informed view.

On the second point, this depends on how well the issue is known locally (it would be helpful to know where the property is). For example, I come from Nottingham and most of the area has been mined, so it's a well known issue here. It might frighten future buyers off, depending on how much of an issue it is locally.  VIEW THE FULL ANSWER HERE!


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