I have a feeling I'm going to get the "stay away" response in bulk, but I'll ask the question anyway;
I'm looking at purchasing an apartment that is 11 years old as an IP, during the inspection I noticed that one of the power points was covered with tape - I asked the REA about it to which he asked the tenant who was present & proceeded to explain that the occupants above either flooded their bathroom/had leaking pipes and that it had short circuited some of the power points/light switches - it had been raised with the PM & landlord who had done nothing, there were no water leaks or moisture but electrical issues. Both the tenant and the REA were actually quite pleasant about openly discussing it (I was expecting the REA to try and quieten him down). The REA stated that he wasn't aware of the issue & seemed genuine about it - he stated that it would need to be fixed prior to being sold & that I should otherwise list it as a condition if I made an offer.
Questions
- Based on the above info, would this be something that the owner or body corp would need to cover?
- If I did decide to make an offer, what exactly should be listed & how? (I don't want a band-aid solution)
Thanks in advance,
Adam
I'm looking at purchasing an apartment that is 11 years old as an IP, during the inspection I noticed that one of the power points was covered with tape - I asked the REA about it to which he asked the tenant who was present & proceeded to explain that the occupants above either flooded their bathroom/had leaking pipes and that it had short circuited some of the power points/light switches - it had been raised with the PM & landlord who had done nothing, there were no water leaks or moisture but electrical issues. Both the tenant and the REA were actually quite pleasant about openly discussing it (I was expecting the REA to try and quieten him down). The REA stated that he wasn't aware of the issue & seemed genuine about it - he stated that it would need to be fixed prior to being sold & that I should otherwise list it as a condition if I made an offer.
Questions
- Based on the above info, would this be something that the owner or body corp would need to cover?
- If I did decide to make an offer, what exactly should be listed & how? (I don't want a band-aid solution)
Thanks in advance,
Adam
