Homes Under the Hammer pair buy house with subsidence – and make £151k profit

The property had been repointed at some point with the pointing being different colours.

Martin explained: “Can you see how the pointing is a slightly different colour? It’s still not that obvious.

“But it is something which has been brought to the attention of potential purchasers and that is definitely going to put off both them and mortgage companies.

“Is it critical? Probably not. But it’s critical if you want to get a mortgage.

“So, to sort it out isn’t actually that big a job, believe it or not, it’s called underpinning.

“You dig underneath the property you squirt in some sort of concrete something which is going to provide better foundations underneath existing foundations, and then that will hopefully resolve the issue.

“In terms of doing this, I don’t know a guess – £20,000?”

The property’s four bedrooms were in good condition and the family bathroom was brand new.

The home also included a large loft space with skylights which could be transformed into a fifth bedroom with planning permission.

The property’s auction guide price was between £275,000 and £285,000.

The winning bid was £289,000 from Danny and his business partner David in December 2018.

The pair are professional developers with Danny having a background in construction, and David being a quantity surveyor.

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