PropertyInvesting.com | novice100 | Activity https://www.propertyinvesting.com/members/novice100/activity/ Activity feed for novice100. Sun, 05 Apr 2026 13:13:50 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 b798beae4a616c5e9687f60498d02bc1 novice100 replied to the topic Strata report issue - Should I buy this investment property - advice please? in the forum Help Needed! https://www.propertyinvesting.com/topic/4405705-strata-report-issue-should-i-buy-this-investment-property-advice-please/#post-4662599 Fri, 27 Jan 2012 00:05:08 +0000 I have spoken with the agent who has indicated the following 1. He has confirmed that there is no current legal action happening. The steel corrosion issues have been reported to the builders within the warranty period and are being investigated. The strata meeting minutes refer to an agreement to hire lawyers IF the builders try to resist…[Read more]

]]> fe48e314253a878d9128ce6ea8ec2a09 novice100 replied to the topic Strata report issue - Should I buy this investment property - advice please? in the forum Help Needed! https://www.propertyinvesting.com/topic/4405705-strata-report-issue-should-i-buy-this-investment-property-advice-please/#post-4662598 Thu, 26 Jan 2012 11:31:12 +0000 Catalyst wrote:
If there are defects in the building I'd be more worried about lawsuits. If a person was injured the insurance may wipe the claim. I know I've missed out on many "one off" deals only to find another the next week.Wait to see what happens with the claims. Others will want to sell if the issues arrise and you'll get a bargain.…[Read more]

]]> 05207a33df309d767809a102479c76b5 novice100 replied to the topic Strata report issue - Should I buy this investment property - advice please? in the forum Help Needed! https://www.propertyinvesting.com/topic/4405705-strata-report-issue-should-i-buy-this-investment-property-advice-please/#post-4662596 Thu, 26 Jan 2012 09:23:05 +0000 Pat007 wrote:
So your going to stick your mum, in what an engineers report lists as a very expensive potential fire trap?i think your a little bit in love with the place.., i understand.  you may need to do some more looking around other places  and cool off a bit im thinking

I'm not too worried about the fire aspect because there is a ground f…[Read more]

]]> 995f30b3ba8cfb2e96557b7254ed7b56 novice100 replied to the topic Strata report issue - Should I buy this investment property - advice please? in the forum Help Needed! https://www.propertyinvesting.com/topic/4405705-strata-report-issue-should-i-buy-this-investment-property-advice-please/#post-4662595 Thu, 26 Jan 2012 09:20:23 +0000 Derek wrote:
The way I look at it is as follows;The multilple building reports all identify signifciant issues – this to me, indciates lax workmanship in the whole project across a number of areas and now these defects in all areas are coming to light. You haven't identified which state or how many storey are in the building. Be aware that in…[Read more]

]]> bd283137ba406085a3ccbc7c183a6b4b novice100 replied to the topic Strata report issue - Should I buy this investment property - advice please? in the forum Help Needed! https://www.propertyinvesting.com/topic/4405705-strata-report-issue-should-i-buy-this-investment-property-advice-please/#post-4662593 Thu, 26 Jan 2012 08:58:17 +0000 the reason that i offered $670k is that the owner refused any lower and I want it because the apartment and complex are very nice and ideal for the 1st tenant who will be my Mum!if the defects are going to be the liability of the original builder as it sounds like they should be then it shouldn’t concern me too much and if the liability is the o…[Read more]

]]> 87314dfd08fc340bac6bc3473a0abf5a novice100 replied to the topic Strata report issue - Should I buy this investment property - advice please? in the forum Help Needed! https://www.propertyinvesting.com/topic/4405705-strata-report-issue-should-i-buy-this-investment-property-advice-please/#post-4662589 Thu, 26 Jan 2012 07:24:49 +0000 Also I forgot to mention that an identical unit in the complex sold for $650k in October 2011 so I presume this problem did not deter the buyers then (the report was written in July 2011 but the legal scion started in dec 2011)

]]> 58ef1998912050f2b1f14a5aa0dd338e novice100 replied to the topic Strata report issue - Should I buy this investment property - advice please? in the forum Help Needed! https://www.propertyinvesting.com/topic/4405705-strata-report-issue-should-i-buy-this-investment-property-advice-please/#post-4662588 Thu, 26 Jan 2012 07:22:43 +0000 But the steel problem is a building fault so the builders will probably end up paying for it. Also I Houghton that reducing my offer by $20k would compensate for the possibility if losing the legal case – does this seem reasonable?

]]> 29d22b93abeaead52c15ff65f6bec681 novice100 replied to the topic Strata report issue - Should I buy this investment property - advice please? in the forum Help Needed! https://www.propertyinvesting.com/topic/4405705-strata-report-issue-should-i-buy-this-investment-property-advice-please/#post-4662586 Thu, 26 Jan 2012 06:26:11 +0000 i figure that if the legal case fell through and cost $2million as a worse case scenario that would only equate to $20k per unit – tax deducitble too – and that’s a worse case scenario only

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