Hi, after saving for years I have looked into a property in Adelaide, its almost a +’ve cashflow property. However, the building inspection highlighted that the footing may have subsided due to reactive soil, and the garage ceiling looks to be sagging, cracks in almost every room 1mm, I am in two minds of purchase as the inspector has mentioned that it could get worse as the property is only 6 years old or doesn’t and stays intact. Now, i’m waiting on structural engineer’s report to decide. I was wondering if I could get some opinions from the experts out there.
There’s millions of properties in Australia, there’s no reason not to pick an A grade property over a B-D grade investment. If it were an older property I could forgive something like this more, but being only six years old it should NOT be suffering from these issues, so it’s telling about the quality of the build.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
How much would it cost to fix? What would this do to your positive (almost) cashflow? Would the buyer reduce the price by the amount it would cost to fix?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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