Hi all,

Well, the story continues. The building + pest inspection people called me back. The photos prove that the main structure is indeed steel, but he’s also told me not to be fooled/have the wool pulled over my eyes by the owners/real estate agent. According to him, given the damage has been found in door jams and architraves, he is still…[Read more]

OK.

I’ve just got an SMS from the real estate agent.

The owner has crawled all over the roof (and inside it) to prove that the house is indeed a steel frame. They are sending the photos to the building + pest inspectors to prove it.

Waiting on the deliberation from the building + pest people, plus the quotes from building + pest to repair/fix…[Read more]

OK. Reassuring comments there, DWolfe.

So the plot thickens.

I got a call from the real-estate agent this afternoon. They’ve been told by the owner that the construction is a steel frame, and on this basis, doesn’t need an invasive Borer-scope done on the place.

This in itself is interesting. Apparently they have no proof of it though, so it’s…[Read more]

Scott No Mates wrote:
All the more reason to be bargaining downwards and moving away from your original offer.

Yup. Having never done this before, are we displaying “poor form” by making the offer they’d hope we’d make, to get it off the market, then doing the investigation and driving the house down in price?

I don’t want everyone to come…[Read more]

Yup. Waiting on the quotes for repairs, let alone the borer-scope. I think we can knock 20k off without too much drama! That said, depends on how motivated the seller is. We’ve been lead to believe that the current owners need to get out _fast_….

dnh83 wrote:
Just remember your clause in the contract – don't feel obligated to purchase unless you're 100% confident with your decision.At the end of the day it's your decision – the agent will try his/her best to persuade you, that's their job.And remember, each and every day more properties are listed for sale ("There's plenty of fish in the…[Read more]

dnh83 wrote:
Hi Z,I'd also side with the comments made by other forum members.You mentioned that it's cheaper than anything else in the area that is similar – think about why…If we just consider PPORs for a moment, nobody want's to buy someone else's problem (this applies whether its a car, business or house)…the exception here is if yo…[Read more]

Forest Lake PM wrote:
Hi Zebrax, I live and work in Forest Lake. Honestly depending on where the termite damage is I would possibly walk away. I have purchased my own home in Forest Lake. My house did have previous termite damage HOWEVER it was outside in a small plank of wood in the very small retaining wall. So I continued to buy it. Having…[Read more]

Lalibella wrote:
Bummer, sounds like a nice place and I bet you have fallen for it! Yeah, I'd do a runner.  Its a lot to spend on your first house and have the thought termite damage in the back of your mind all the time. Termites are a fact of life for most of Oz but there are plenty of homes not affected.Plus the drainage issues…whats next?…[Read more]

Good thoughts there, JacM.

Looking into it now. This is always a possibility, and has potential to lower my loan, and improve property value in the long run.

Interesting.

So for the majority, people think I should walk away from this one?

On the outset, it looked like a good buy, simply because of the 20k++ pool installation and that on the surface, 20km from the city, with a new train line going in was a good deal…

But maybe not so much?

Looking for the wisdom of crowds…

z