Newby - a few buying questions

O

onion33

Hello and thanks for your assistance in advance

1. Do you always get a building and pest inspection done (even if it's a new townhouse)?

2. When do you conduct building and pest inspection? Do you do it before placing an offer (and then make an unconditional offer if it's all good) or make an offer conditional to the inspection?

3. Does anyone have a "letter of offer" template they're willing to share?

Thanks
 
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Depends what the townhouse is made from: brick or fibro/wood. For brick/concrete slabs, I wouldn't bother if it's new.

Some places do a strata and pest inspection together.
 
By new, do you mean 'off the plan', recently completed (1st buyer) or a couple of months/year old?

A building inspection will pick up on the defects in the construction which should be rectified by the builder/developer - there is a time limit on some of the defects especially if it is new construction.

If you are buying private treaty, then the inspection is within the cooling off period (sometimes befoe); if going to auction before the auction date.
 
I'd get a building inspection done regardless of age. It's a small price to pay relative to the cost of the property.

Cheers

Jamie
 
Scott No Mates said:
By new, do you mean 'off the plan', recently completed (1st buyer) or a couple of months/year old?

A building inspection will pick up on the defects in the construction which should be rectified by the builder/developer - there is a time limit on some of the defects especially if it is new construction.

If you are buying private treaty, then the inspection is within the cooling off period (sometimes befoe); if going to auction before the auction date.
Click to expand...

New as in OTP or within a year old. The condition of the please external and internal will most likely decide for you on whether you feel one is needed or not.
 
I will declare up front I do pre-purchase building inspections and I would get one done regardless of the age of the building. New homes and new buildings haven't had time to show there faults doesn't mean they are not there just not obvious. A lot of new homes these days are just slapped together. When your walking past a nice straight wall are you taking the covers off the shower taps on the opposite side and making sure it is sealed to AS standards ? Are the weep holes in the brickwork areas unobstructed ? what is the minimum distance from the ground to the slab edge? What kind of mould is that growing in the front lawn and why would that matter ? Does the drainage meet Australian standards? Can the windows upstairs open to far ? What percentage of moisture is common in plaster walls in that room area ? just a few questions I would know the answer too before I left. Please God give me the easy ones with the big crack in the ceiling or brick work. Most are easily fixed and non issues its what you can not see that gives an inspector sleepless nights.
 
Simply make it a condition of sale, just like Finance etc.
I always pay for a building inspection. It's really a small price to pay.
If it's not an auction sale you negotiate on price first, then complete your due diligence.
You may of course have to have the inspection booked in advance, but scheduled to occur between contract exchange and due diligence period ending.
This is all negotiable. If in doubt get the advice of a solicitor to advise prior to signing anything. Again, this is what I would do every time I purchase in a new state. Once you know the lay of the land you can just repeat each time.

Of course all this will make your offer less compelling to any vendor who will likely jump at any 'unconditional' contracts. Remember - there's plenty of fish in the sea

Cheers,

Dwight
 
Following on with this Im after some advice on the process as well.

Assuming you have offer subject to finance and pest.

What do I loose if finance isnt approved?
What about if it is approved for 80% when you needed 90%?
 
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MattADL said:
Following on with this Im after some advice on the process as well.

Assuming you have offer subject to finance and pest.

What do I loose if finance isnt approved?
What about if it is approved for 80% when you needed 90%?
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Hiya MattADL,

If you have a subject to finance and your finance is not approved,no penalty.

Subject to B & P report,you can exit as well if not satisfactory,

Cheers Spades.
 
Spades said:
Hiya MattADL,

If you have a subject to finance and your finance is not approved,no penalty.

Subject to B & P report,you can exit as well if not satisfactory,

Cheers Spades.
Click to expand...

Hi Spades, with the B & P report, to what extent/what kind of things would there need to be for the B & P to be unsatisfactory enough for you to exit the contract?

Cheers,
D.L
 
onion33 said:
Hello and thanks for your assistance in advance

1. Do you always get a building and pest inspection done (even if it's a new townhouse)?

2. When do you conduct building and pest inspection? Do you do it before placing an offer (and then make an unconditional offer if it's all good) or make an offer conditional to the inspection?

3. Does anyone have a "letter of offer" template they're willing to share?

Thanks
Click to expand...

1. Yes.
2. Make an offer conditional to the inspection.
3. Very easy to make up your own. Need your details, property address, offer amount, conditions, mention that it's not a formal offer, signature and date.

Here is a good example:
http://www.myhouserealestate.com.au/resources/Letter_of_Offer.pdf

Andrew
 
D.L said:
Hi Spades, with the B & P report, to what extent/what kind of things would there need to be for the B & P to be unsatisfactory enough for you to exit the contract?

Cheers,
D.L
Click to expand...

Depends on your wording, it could be to your satisfaction or it could be if there is a structural issue, you should consult a law expert.
 
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