Buying a tenanted property - viewing condition report

G'day,

Hopefully an easy one to answer - I couldn't get much specific from searching here.

I am thinking of putting an offer on a tenanted property. I asked the agent if I could see the entry condition report to understand the condition the tenants would leave the property in when their lease was up.

The selling agent said they couldn't do this and it was against some privacy laws. The selling agent is not the managing agent, so I suspect it is just too hard for them to be bothered.

I'd really like to know if there was anything damaged when the tenants moved in so I don't have unrealistic expectations of a perfect house when they move out.

Is it normal to expect to see this report pre-offer, or do I include satisfactory assessment of entry condition report as a condition of the offer, or do I just have to trust that everything will be OK?

Cheers,

MK
 
I'd really like to know if there was anything damaged when the tenants moved in so I don't have unrealistic expectations of a perfect house when they move out.
Make your offer based on the present condition of the house.

Is it normal to expect to see this report pre-offer,
No

or do I include satisfactory assessment of entry condition report as a condition of the offer,
No

or do I just have to trust that everything will be OK?
No, but you will do a pre-settlement inspection to make sure that the property is in much the same condition as it was when you inspected it.
 
Exactly as Propertunity has said. Make your offer based on the present condition of the house.

The agent is not just being difficult as they are unable to release an entry condition report without the owners consent. I will also generally advise owners not to consent to such a request as it can create unneccesary dramas.
 
or do I just have to trust that everything will be OK?
MK,Just ask the question,over the last 5 years what maintenance has been done on the property the PM, will know,most times if you are upfront they will tell you,if they don't then walk away because it's better from the start to get the right advice from the beginning then as most who are led up the garden path,and then discover an error on what you have been told when it's too late,r-e will only tell you what they want you to hear:):),the market can cool down just as fast,when most people think it,s just warming up..willair..
 
MK,Just ask the question,over the last 5 years what maintenance has been done on the property the PM, will know,most times if you are upfront they will tell you,if they don't then walk away because it's better from the start to get the right advice from the beginning then as most who are led up the garden path,and then discover an error on what you have been told when it's too late,r-e will only tell you what they want you to hear:):),the market can cool down just as fast,when most people think it,s just warming up..willair..

This bares no logic. You're recommending to not purchase a property because the PM will not realease a condition report in complying with privacy laws?

If you do your own due diligence on the property in its current condition, what can possibly go wrong that wouldn't in any other sale? Get an adequate building and pest and you should find any drama's that way. Keep in mind you will also have your pre settlement inspection to ensure the property is in the same condition as when you first saw it.
 
This bares no logic. You're recommending to not purchase a property because the PM will not realease a condition report in complying with privacy laws?

If you do your own due diligence on the property in its current condition, what can possibly go wrong that wouldn't in any other sale? Get an adequate building and pest and you should find any drama's that way. Keep in mind you will also have your pre settlement inspection to ensure the property is in the same condition as when you first saw it.

Any questions i ask are always answered by any agents that i talk too they will tell you anything,plus a building inspection means stuff all in the real world as you would know,maybe not in the market we are in now but that can change over a very short period it's very easy to playcompeting agents off against each other,but maybe you are the agent who can truly predict what is going to happen to real estate prices??
.. willair..
 
Any questions i ask are always answered by any agents that i talk too they will tell you anything,plus a building inspection means stuff all in the real world as you would know,maybe not in the market we are in now but that can change over a very short period it's very easy to playcompeting agents off against each other,but maybe you are the agent who can truly predict what is going to happen to real estate prices??
.. willair..

What relevance does anything you have just said have to my statement?

We were never debating market conditions and changes, we're talking about viewing an entry condition report. As mentioned, do your own due diligence on the property in its current condition and you won't have any problems that viewing an entry condition report could change.
 
Viewing the entry condition report would come in helpful as far as a tenanted property is concerned as you will be able to ascertain how well they are looking after the property in the timeframe that they have been there, and will also give you an indication as to what to expect when they leave. After all, the tenants may be the reason for the sale!!:eek:

Other than that, yeah...you may be able to use it as leverage when negotiating, but propbably wont win you any ground unless the house has been on the market for a while.

Was all that vague enough for you??:D

Boods
 
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