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Thank you for all your responses! After much deliberation I ended up cancelling the contract. I do think it still could have been a good purchase, even for the land value alone, but unfortunately not for me. Hopefully someone looking for a challenge ends up picking it up, if it is one of you...

Thanks Perp, that certainly makes me feel a lot better. It's hard to know what to be really concerned about when the building report does make it seem like the house is falling down like you say! I've attached some screenshots of the building inspection to provide more detail. Any comments or...

Hi all, I've had my offer accepted for a new IP for asking price (which I am very happy with) in an up and coming area that I believe has a lot of potential. The vendors are separated and there has been some delay in getting all the relevant forms together, so technically the cooling off...