Hi Everyone,
I am buying ... (trying to) buy my first property. PPOR actually - so I can step forth into the investment world...
I have made an offer on a house, it's been negotiated and a figure agreed upon - which is a pretty good price, I got my legals, finance, and finally received my pest & building reports - took a few more days than expected. not to worry!
Anyways... I haven't signed a contract yet (so the property can still be sold from under me - I'm aware of that...) and I'm a bit concerned with some things in the building report. I'm no way knowledgable with most things, especially piers and joists etc so I was hoping that maybe someone could make a few "general" (completely disclaimed) comments from the following pix? Please, if possible? I'm just not sure how bad it is... I know it's not good. I have been trying to contact the Inspector, but today he was very busy
The house is approx 30 yo Hardiplank (asbestos clad). Termite activity has been indicated, but no attack - adivised to have the place treated. It's been lived in by a family of 2 parents and 3 young boys. It's quite neglected on the surface, but I can see some potential for a cosmetic cleanup. It's the bigger things that I don't know about. I don't have a load of cash to throw into it - this would be a gradual project of love. and build equity.
The report has the following comments regarding the pics:
Structural Timbers Sitting on Piers: No
Recommendation: Load bearering timbers are not fully supported on piers, additional piering may become necessary within the near future.
Bearers Correctly in Place: No
Recommendation: Additional support timbers have been added to the bearers due to insufficient sizing possibly at the time of construcction - refer to previous recommendation.
Structural Repairs/Replacement Necessary: Yes
Additional comments: Sub structure load bearing timbers are not fully supported on piers, this appears to have been a fault created during the original construction, possible correction may be required should those timbers dislodge further.
How bad are these things? Am I looking at big dollars?
When I first spoke to the inspector I hadn't seen the report and he really scared me with all the troubles. Then when I read the report, the wording of all of the problems don't seem as urgent or important ie. "possible correction", "may become necessary within the near future" etc.
TIA for any comments or feedback.
PS. How troubling is it to have an easement through the property?
Report: There is a posibility that an easement runs through the rear yard area, this should be clarified prior to purchase.
I am buying ... (trying to) buy my first property. PPOR actually - so I can step forth into the investment world...
I have made an offer on a house, it's been negotiated and a figure agreed upon - which is a pretty good price, I got my legals, finance, and finally received my pest & building reports - took a few more days than expected. not to worry!
Anyways... I haven't signed a contract yet (so the property can still be sold from under me - I'm aware of that...) and I'm a bit concerned with some things in the building report. I'm no way knowledgable with most things, especially piers and joists etc so I was hoping that maybe someone could make a few "general" (completely disclaimed) comments from the following pix? Please, if possible? I'm just not sure how bad it is... I know it's not good. I have been trying to contact the Inspector, but today he was very busy
The house is approx 30 yo Hardiplank (asbestos clad). Termite activity has been indicated, but no attack - adivised to have the place treated. It's been lived in by a family of 2 parents and 3 young boys. It's quite neglected on the surface, but I can see some potential for a cosmetic cleanup. It's the bigger things that I don't know about. I don't have a load of cash to throw into it - this would be a gradual project of love. and build equity.
The report has the following comments regarding the pics:
Structural Timbers Sitting on Piers: No
Recommendation: Load bearering timbers are not fully supported on piers, additional piering may become necessary within the near future.
Bearers Correctly in Place: No
Recommendation: Additional support timbers have been added to the bearers due to insufficient sizing possibly at the time of construcction - refer to previous recommendation.
Structural Repairs/Replacement Necessary: Yes
Additional comments: Sub structure load bearing timbers are not fully supported on piers, this appears to have been a fault created during the original construction, possible correction may be required should those timbers dislodge further.
How bad are these things? Am I looking at big dollars?
When I first spoke to the inspector I hadn't seen the report and he really scared me with all the troubles. Then when I read the report, the wording of all of the problems don't seem as urgent or important ie. "possible correction", "may become necessary within the near future" etc.
TIA for any comments or feedback.
PS. How troubling is it to have an easement through the property?
Report: There is a posibility that an easement runs through the rear yard area, this should be clarified prior to purchase.