I am genuinely considering purchasing a termite infested house offered for 150-200k less than what it would go for if it were not riddled with termites.
House is deceased estate and has been vacant for 8 years. Damage is moderate in most affected areas with severe yet easily accessible damage to some posts in contact with wet ground.
I am wondering what the deal would be with borrowing to finance this and whether its possible? Has anyone had any previous experience with this sort of thing?
The agent has left the word "termites" out of the contract but the pest inspection states they are clearly there. We would be hoping for a 80% loan and our existing loans are with Westpac and Commonwealth.
thanks in advance!
House is deceased estate and has been vacant for 8 years. Damage is moderate in most affected areas with severe yet easily accessible damage to some posts in contact with wet ground.
I am wondering what the deal would be with borrowing to finance this and whether its possible? Has anyone had any previous experience with this sort of thing?
The agent has left the word "termites" out of the contract but the pest inspection states they are clearly there. We would be hoping for a 80% loan and our existing loans are with Westpac and Commonwealth.
thanks in advance!