Buying Property Subject To Mine Subsidence
What is mine subsidence and how can it impact property buyers? What is mine subsidence? Mine subsidence is the gradual sinking of land caused by the removal of underground resources, such as coal, oil, minerals, or natural gas. This downward or outward movement of the surface of the earth can take many years to play out, or it can occur suddenly, causing extensive damage to any structure built on the surface. In some cases, homeowners can buy property that is subject to mine subsidence or landslip, but they need to be aware of the risks involved. Is mine subsidence considered a high risk? Not generally, a. However there are some risks if you’re building on the property. The risk of landslides, for example, is higher when the property is near or directly above an old or active mine, or a landfill area. Property is treated as normal when it is not either on or near a landfill area. You can consult a local valuer to find out if your property is at risk. He will know the area a...