I need to know what other people have done in this situation from their own experiences.
Our offer for a property has been accepted, but on building inspection , it was found to have a structural defect.
The requirement according to the purchase contract is for the building inspection report to list and describe the structural defect and to include a written quote of how much to correct this defect.
The building inspector ( a registered builder) stated that a written quote for correction cannot be done unless some digging beneath the structure ( carport post ) is done. We, the buyer cannot do this and the building inspector cannot do this, because the sellers still own the house.But today is the last day of paying the deposit. What should I do? A property lawyer I called today (Sunday) told me not to pay deposit yet even if I told him about the default notice for not paying. I will seek legal advice asap, but a bit afraid of not being deposit today ( last day) and receiving a default notice.
Any advice/insights from own experieces will be much appreciated.
I have a certificate 4 in building construction, and have worked in construction on and off since childhood.
Structural defects can be cheap to repair, but depending on what it is, they are the most expensive to repair by far. For example, if your footings are not up to standard, or a geotech report wasnt done on the land and so youre getting too much settling (sinking into the ground) then the fault in the structure will crack plaster off walls, pop tiles off floors, ruin roof flashings, crack sewer lines/plumbing…total nightmare.
IMO sign nothing without a report, or if you simply must, alter the contract of sale to give you an escape clause in case the structural defect is something out of control. You can alter a contract at any time, with a signature, so consider postonement.
Another thought to consider that any seller with a possibly catastrophic structural defect isnt about to replace you with another buyer at the drop of a hat – so resist that pressure. Cold, rational, decisions, always.
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