Any guidelines on checking properties?

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From: Roger Leitch


I'm new to property inspections-does anyone have some advice on where to go for basic info on e.g looking for structural problems,white ants etc. Please help.

Roger
 
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From: Michael G


Hi,

I've always used professionals to do this stuff, and by no means is it full proof. I once had a pest inspecting indicate no problems, but the valuer, picked up a problem. Of course I decided not to proceed :)

Personally, I find those the last things to look at.

For two things to consider would be (note: this would be for properties that require little work);

"Why would anyone in their right mind, buy this property?"

"Why would anyone in their right mind, rent this property?"

Answering these questions actually narrows things down a bit.

You could ask other questions like...

"Well why wouldn't a tenant, rent the property down the road"

"Why is THIS property worth $x?"

Then once this narrows things down, and you start to look more at why not to buy it, damage, etc and this is where I've found reports to be useful.

I use pest/building report when buying properties to wrap.

Michael G
 
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