After obtaining a building inspection prior to settlement and on the condition there are defects to be found, would there be any advantage of using the building inspection costs as a bargaining tool that will go towards deducting the cost of repairs from the final offer in any way?
In this case, the buyer would be liable for any repairs before the settlement date. My guess is this might help me apply for a smaller loan (thus increasing my equity).
Quite often clients will use defects on a building and pest inspection to marginally negotiate their contracts down lower. Realistically though an unconditional offer would likely get you that lower price or even lower again, so I don’t particularly see this as a ‘strategy’.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
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