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Question: Once contracts have been exchanged and your building inspection comes back unsatisfactory, can you still back out of the deal?
Hi guys,
Is a building inspection compulsory or just recommended? I guess a BI will give you a good idea of any major work needed on the property.
not compulsory, but certainly recommended. the report will come back sounding like the place is about to fall down, they cover their behind. call the inspector and have a chat. ask if he would buy it.
So if every report says the same thing, implying that the building is about to fall apart this instant, which you take as hyperbole/*** covering, why bother getting a B&P report?
is that not your experience of building reports, read by a naive reader? why bother getting one? to speak with the inspector.
edit - particularly important for buying site unseen in this scenario. A PM the OP sends around might think it's has great rental potential but not be experienced enough to look at the place and realise it's roof needs replacing and there are termites or otherwise.
From my personal experience with Property Managers, they have a more than adequate skill set to go a property and do a basic inspection of the property, similar to what the do on a regular basis with the properties thet manage.
That said, when the time comes i will try my luck with them. Personally i dont think they will turn away business.
Jacque, as i mentioned in my initial posting (perhaps not clearly), if i come across a property without the assistance of an estate agent or buyers agent, i need to be able to have someone who would be able to be my eyes and ears on the ground with regards to inspecting the property. You mentioned using a buyers agent, but would they really provide me with an inspection service even though I am not their client? The other problem i have is the it is alot easier finding a letting agency in a specific area than a buyers agent. If you sourcing properties all over Australia in remote little towns, how do you easily and quickly find a BA who would do your inspection for you? Out of interest, what sort of fee would they ask for purely doing the inspection?