Hi Guys,
I had my build and Pest reports done, there is a termite barrier installed back in 2009 (Label in the meter box). the Pest report came with previous termite damage in the retaining walls (nothing inside the house).
Pest report recommended getting the paper work for the previous barrier as it will include why the barrier was installed and an inspection report before installing the barrier. If the seller replaced the damaged wood, it cannot be seen in the current report.
My worry is
1- My solicitor requested the report from the seller (what if they do not provide it, or say it is lost). Should I step back as this means seller is hiding something.
2- I read some reports saying the 70% of buyers do not think about any house that had any previous damage. my strategy is to buy and hold, however it makes it higher risk just in case I decided to sell.
3- Both build and Pest guys confirming the house is around 40 years old (hard wood), while RE agent, RPdata , and other data sources saying the house was build in 1995 (20 years old).
What do you guys think. the price is quite good, good capital growth in the area, and the house will be almost neutral from day one.
I just bought my 1st IP, and it was quite straight forward, all the reports were on the same page. but this time it is not.
your responses, ideas will be much appreciated.
Thanks
Ram
I had my build and Pest reports done, there is a termite barrier installed back in 2009 (Label in the meter box). the Pest report came with previous termite damage in the retaining walls (nothing inside the house).
Pest report recommended getting the paper work for the previous barrier as it will include why the barrier was installed and an inspection report before installing the barrier. If the seller replaced the damaged wood, it cannot be seen in the current report.
My worry is
1- My solicitor requested the report from the seller (what if they do not provide it, or say it is lost). Should I step back as this means seller is hiding something.
2- I read some reports saying the 70% of buyers do not think about any house that had any previous damage. my strategy is to buy and hold, however it makes it higher risk just in case I decided to sell.
3- Both build and Pest guys confirming the house is around 40 years old (hard wood), while RE agent, RPdata , and other data sources saying the house was build in 1995 (20 years old).
What do you guys think. the price is quite good, good capital growth in the area, and the house will be almost neutral from day one.
I just bought my 1st IP, and it was quite straight forward, all the reports were on the same page. but this time it is not.
your responses, ideas will be much appreciated.
Thanks
Ram
