Auctions and building/pest inspections

Hi echelon6,

Unfortunately, that is one of the major challenges that I see in trying to buy houses via the auction process. We have purchased well over 100 houses in Queensland and always had a building and pest inspection done on the property every single time.  It is a bit of a gamble paying good money for building and pest inspection before the auction HOPING that you will be the winning bid.

In a perfect world, it would make sense to have a building and pest report completed prior to the property going to auction from a panel of inspectors. The report can be transferred over to the new purchaser and the new purchaser is required to pay for the building and pest report up and above the auction price received on the day.  For the potential buyer, it would give them the reassurance on what they are actually buying. For the seller, it would encourage a much more bigger pool of potential bidders at the auction.

Ah well, that is my 10 cents worth.

Regards,

Jason Moore

If you are in Sydney and are paying $600 for a pest and building inspection, you are getting ripped off!. Had inspection done by Acquired Property Consultants http://www.acquiredproperty.com.au. They charge $380 for both pest and building combined and the inspector actually calls you after the inspection to talk to you about the property prior to sending the report through.

Hello All members,

Home purchasers forking out expenses to unfit building controllers

While hunting down another home with a financial plan of about $3 million, acupuncturist Hong Lau turned down the shot of purchasing existing irritation and building reports offered to her by land operators on two properties.

She dismissed the establishment reports authorized by the operators in light of the fact that “right off the bat I didn’t know who did the report and I didn’t feel I could ask that individual inquiry. Besides you don’t get the advantage of a building monitor taking you through the property and demonstrating to all of you the deformities.”

Rather, Lau charged her own particular pre-buy provides details regarding four properties in Sydney’s Bondi Beach from experienced building advisor Chris Dyce, executive of Informed Building Reports. “I was extremely happy I chose to utilize him.”

Dyce revealed that the back expansion of one house had died down. “When I moved toward the land operator about this, he was extremely disturbed that I had raised the reality it had died down.” The specialist said there was no way of it in the building examination report they had appointed and “denied it completely”. Lau chose not to offer on the house, which sold for about $3.5 million.

She wound up purchasing an alternate property, “completely mindful” that she expected to spend about $300,000 to settle the wiring and plumbing and remodel. “That had a direction on the value I was ready to pay.”

Dyce, leader of the Australian Society of Building Consultants, suggests purchasers select just experienced building monitors, who are appropriately qualified, have worked in the building business and are protected. He says a pre-buy report is totally justified regardless of the cash in the event that you get the correct examiner. “In any case, it’s a misuse of cash in the event that you get a nitwit… It can be exceptionally costly in the event that they don’t really distinguish the issues.”

• This reply was modified 6 years, 2 months ago by  Wilson.