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Structural Nightmare or a 'Cracking' Buy?

Property developer Phil Stewardson comments

It might sound strange, but as a property investor I do like turning up at a viewing and finding a nice prominent crack or movement of brickwork in one of the elevations! Structural issues drive fear into the heart of many present at the viewing, especially the uninitiated.

After all, many have seen images of stunning coastal properties once perched on the edge of an eroding cliff top that have now plunged on to the beach.

My patch is 120 miles from the coast so losing a property to the sea is not a realistic concern for me. Plus, I know that in a good 70 per cent of cases, the crack is going to be historic settlement that can be rectified quickly and cheaply. But for me, the best thing about finding one of these properties is that interest in it is going to plummet.

In these cases, the first thing I do is approach the agent and point out that I have noticed the obvious, but am still interested in the property.

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