Taking on vendors maintenance issues

[keenas]

Hi all

I have recently purchased a property in QLD.

Settlement was only last Monday - so I have only owned this house for 4 days.

I bought this house sight unseen but did get a pest and building inspection done for my peace of mind.

I changed the current PM over to an agent that manages another property that I own in the same area and that I have been very happy with.

My problem is that I have received an email today with a list of maintenace issues that have been ongoing since January.

These are not small issues either. New curtains throughout, air conditioner not working, windows that need replacing ........

The Company that leases this house has written 5 letters since January to the original PM requesting that these issues be sorted out.

In the maintenance request that I received today the tenants mentioned that if these issues were not rectified soon that they would be breaking the lease.

The agent that i bought this property off assured me that the house was in great condition needing nothing done.

Where do I stand with all of this ? Am I expected to pay for unresolved maintenance issues that have been ongoing for the 6 months prior to me owning it ?

Feeling a bit ripped off

Keenas

 

[Petal]

Not much help but I have two words for you:

Caveat Emptor (Let the buyer beware).

I am wondering if these issues were in the property inspection and whether the curtains were listed on the contract as included in the purchase.

I think though you will have to suck it up and get these things rectified.

 

[The Y-man]

The agent that i bought this property off assured me that the house was in great condition needing nothing done.

Well, nothing that needed to be done to make the place habitable....

Where do I stand with all of this ? Am I expected to pay for unresolved maintenance issues that have been ongoing for the 6 months prior to me owning it ?

Feeling a bit ripped off

Keenas

Unfortunately, once it's settled, it's all yours - including the problems that came with it....

Cheers,

The Y-man

 

[twobobsworth]

Maybe it's a good opportunity to let the tenants leave, do the tidy up, repaint and rent for more?

 

[Jacque]

Hi Keenas

I sympathize with you- not much fun finding out that you need to spend $$$ when you didn't think you'd have to. Unfortunately, however, verbal assurances from selling agents are nothing to be relied upon and, as you know, building inspectors aren't there to check on items such as curtains or, indeed, electrical appliances (unless specified or you had an electrical check carried out). In this case, it seems you will need to bite the bullet and pay for the repairs as you're going to have to at some stage down the track regardless.

For the future- remember to get the following included as part of the sales contract terms: All electrical appliances to be in full working order upon settlement and when the pre-settlement inspection is carried out, test everything electrical to ensure you're covered, at least in this department. Next time you purchase sight unseen, get a friend or colleague to check out the place for you as it is important that nothing's changed since you agreed to purchase the property.

I've done PSI's for clients and found electrical items not to be working (in one recent case the rangehood actually packed it in when I turned it on the day before settlement!) and it's then up to the vendors to either compensate the buyer or ensure the item is repaired; that it's returned to it's working state that it was when the property was agreed to be purchased. If it was never working in the first place, and this was overlooked, then it's a little different...

We all learn from our mistakes - at least you'll be all the wiser next time around

 

[marg4000]

And, to add insult to injury, these will be considered improvements and will not be tax deductible, but instead added to the cost base for CGT calculations.
Marg