"period home, pre-auction inspections"

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From: Day Dreamer


Hello everyone,
As a newbie from overseas, I have these couple of questions that have been lingering in my mind for a while.
1. What are period homes, I realize they are something like a Californian bungalow etc, but what is the definition of a period home. Do they have a better capital growth than latter year houses, such as those built in 50s, 60s etc.
2. I posed this question previously. How could one arrange structural and pest inspections prior to auction if one is not sure if the bid would be successful. I really worry to purchase a house that has termite or extensive timber rots.
Any help would be much appreciated.
 
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Reply: 1
From: Steven Parker


As far as pre-auction inspections go, there is nothing stopping you getting a building/pest inspection. Not only is there nothing stopping you, but you absolutely should get the inspections. Now, if you're not successful at the auction, you have lost a few hundred bucks, but if you were successful at the auction, but didn't get the inspections and there was a major structural problem.....

Cheers,

Steve
 
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Reply: 2
From: Gail H


I'm not sure of the actual definition of a period home, but they certainly have better capital growth in most markets.

I have found, though, that in some regions where the older houses were not built to such a high quality (eg. some of the old fibro queenslanders) the market tends to favour newer houses.

Gail
 
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