Hi
I am in process of buying a 3 bed detached house in Kent, the agreed price is over £400,000. The mortgage has been approved, but I realised one side of neighbour is an empty house, it is also detached house. During the initial viewing, I did feel this neighbour’s garden is overgrown, and building looks quite outdated, but I did not know it is empty. I am only aware when the seller revealed that the next door neighbour has been empty since 2004, on property information form, via solicitors.
This neighbour house is detached house, there are curtains behind all of windows and doors, there is a car parking on drive way. It looks the owner may park it there to give an impression that someone is living inside. The owner is living in Cornwall.
The house is in good schools and sought after area, but I am starting to doubt if I should go ahead to purchase it.
So far, I do not know the reasons why this house has been empties, and what is the current owner’s intention will be. The seller did write a letter to neighbour’s owner in 2004, expressed concerns about state of this property and suggested the empty house owner to do something about, about 6 of nearby neighbours also had signed the letter. But it seems nothing has been done. I am worrying that this house will be left empty indefinitely.
Abandoned homes can attract squatters. it’s easy for vandals to come along and break the doors or windows. Once this happens, animals can move in – along with mold and rot. Empty properties are not only unsightly and unattractive, they seriously reduce the value of adjoining properties. I saw some articles on internet suggest the empty house can wipe up to 34 per cent off the prices of nearby properties.
I am very confused now. Do you want to live next door to an empty house?
My options:
(1) Should I pull out?
(2) Should I negotiate a reduction in price with the seller? and by how much in percentages term is fair value?
(3) If I purchase, will I have a problem to let it out to tenants?
Any suggestion please.
thank you