No building inspection

Hi everyone

I need your advice on this please. I have found a nice 3 Bedroom house with a bargain price. I inspected it. Could not find any obvious damp, heave, movement , etc. There was a small crack on the ceiling of a bedroom. I wanted to make an offer subject to building and pest inspection but the agent said that the vendor whats to sell it unconditional. I asked about building movement, the agent said that there has been a movement in the building. The price is $255k while the usual price for that type of property is above $280kThere is an unconditional offer for the house. Has anyone had such an experience? My questions are:
1. Is any movement in building is bad?
2. Shall I make an offer anyway? or
3. forget about it altogether?
I appreciate any input
 
If the vendor truly will only consider unconditional offers you could get a building inspection before you make an offer. Much like you would with an auction.
 
IMO its better to spend a few hundred for building and pest inspection before you make an offer, that will save you thousands if there s actually any defect with the property. I bought a terrace a few years ago at auction and had organised building inspection before hand.
 
All vendors would want an unconditional offer.

You can still put subject to building/pest however if you have the same price and settlement as someone else the vendor will pick the unco offer before one with conditions.

Think from the vendors side which offer would you pick?

If you want to make it unco I would get a building inspection done before, for the sake of a couple hundred dollars it may save you 10,000s. You get a roadworthy on a $5,000 car why wouldn't you for a $300,000 house?
 
1- Not necessarily, but you would almost certainly NEED an expert opinion.
2 - See above. It would be very foolish to 'guess' that the house was sound and make an offer.
3 - NO - This is a 'problem' house that represents a possible opportunity. If it was me I would very much consider purchasing a building inspection to give me the insight I needed to make an informed decision.

You have to accept in advance that your money may well go down the drain. You might get a negative report, or worse get a good report and then lose out on your offer. Thats the price of doing business.

Good luck,

Dwight
 
The 'defect' may not be the building. Have you had your solicitor review the contract? It may be something az simple as an easement which burdens the block, poorly located sewer, illegal building works etc things that the building inspector won't pick up.
 
Im in a similar situation. Vendors will only accept unco offers.. want to do build and pest before hand. But that just shows the rea that i am ssrious about buying etc. Damn
 
It doesn't matter if the real estate agent thinks you're serious about buying- if he thinks you're a serious buyer but have a limited budget, and there isn't much other interest on it, he's more likely to recommend the owner take your offer.
If he thinks you're just lowballing and shouldn't be taken seriously, the owner will be advised accordingly.
 
Back
Top