Hi there,
I’m new to this game. This will be my first purchase. Could anyone advise whether I should have a building inspection carried out on a house which is going to Auction.
It is approximately 25 years old, single level, brick, three bedrooms. Very basic. It seems in good condition. How do you rate the risk spending money on an inspection and maybe missing out at the Auction, or not spending the money on an inspection, winning the house and finding out afterwards there are lots of problems.
Is it the same with Conveyancing. I understand that this is a must irrespective.
If anyone has had any similar experiences, I would really love to hear about them.
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Nikki K
Hi Nikki
If you are planning to hold the property and use it as a cashflow property, then I would undertake a building and pest inspection. Its better to know whats in the book than to judge a book by its cover. You may save yourself thousands of dollars because you know what your getting yourself into prior to buying a property. Remember that once you buy a property from auctions that there is no cool down period.
Cya
Peppino
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