I've just gotten back the building and pest inspection from a property that I've got under contract and it came back less than rosy.
The gutters need replacing, most of the timber on the back veranda needs replacing, the hot water system needs fixing/replacing, etc.
All in all, I reckon there's maybe $20k+ of work to be done to get it all back up to scratch. Now, the contract price is only $255k, so $20k is a fair percentage.
My question is, how do I renegotiate and try and lower the price? Do I send an email to the REA and tell him that due to the problems I'm now only offering $235k? Do I ask for it to be fixed?
If I do get a discount, how will that affect my home loan? Will it need to be sent off to the bank again with a lower price? Could this cause any problems with the bank? Would I be better off asking for $x of Bunnings vouchers, or would that need to go back to the bank as well?
Finally, I'm not entirely sure what to do from here. The contract date was the 19th of July with a 14 day satisfactory inspection clause. That means I have all day tomorrow to renegotiate, right?
The gutters need replacing, most of the timber on the back veranda needs replacing, the hot water system needs fixing/replacing, etc.
All in all, I reckon there's maybe $20k+ of work to be done to get it all back up to scratch. Now, the contract price is only $255k, so $20k is a fair percentage.
My question is, how do I renegotiate and try and lower the price? Do I send an email to the REA and tell him that due to the problems I'm now only offering $235k? Do I ask for it to be fixed?
If I do get a discount, how will that affect my home loan? Will it need to be sent off to the bank again with a lower price? Could this cause any problems with the bank? Would I be better off asking for $x of Bunnings vouchers, or would that need to go back to the bank as well?
Finally, I'm not entirely sure what to do from here. The contract date was the 19th of July with a 14 day satisfactory inspection clause. That means I have all day tomorrow to renegotiate, right?