To All,
I am in the process of buying an IP. The building Inspection was done. The report arrived with problem regarding retaining wall. The house I am intent to purchase is sitting on the slope where the retaining wall is needed to stop land from sliding.
Problems:
The retaining wall is not in good condition and need repairs. Cost approx $2k to $5k.Questions:
1. Will the retaining wall affect the house in the future?
2. where to get extra quote?Any suggestion is appreciated
Chandara
Live life to the maxHi chandra,
i am assuming the retaining wall is made of timber and not concrete/brick. is the conditoin obvious or it didn’t come across your mind to check it during inspections?
anyhow, agents know retaining walls can be a huge problem form the point of people’s perception and not necessarily costs.
i can tell you right now, if the property is not well priced and has been on the market for over 3 weeks, the guy/girl is sweating.
go to yellowpages.com.au. under “business type” type “retaining wall”. get 4 written quotes with vendor’s permission to acess the property. then ask vendor to reduce the purchase price quote price + $1000k and then negotiate down to the quote price.
i am asusming that you have submitted a written offer and it has been accepted prior to your building inspection.or
ask the seller to fix the retaining wall to “builder’s like workmanship” and if there are no weep holes, get them to put a few in to let wated drain during heavy rainfall.
this is an opportunity…people avoid buying house with problem retaining walls. the agent know this. he/she is hoping you don’t know.
Most people don’t like timber retaining walls unless it is in excellen condition. those little bricks with a design is a great way to go. find out how much to tear out the timber wall and place in brick retaining wall.
if u like, you can email me [email protected]
cheersResurrect,
Thank you for your invaluable informations. This problem regarding retaining wall never come across my during inspection. I inspected the property at the time just about to turn dark and never have a chance to look at it properly. Luckily I took a lot of photos using my digital camera.
The retaining wall is made of concrete and it seems to have problems from building inspection point of view. Therefore, I believe there is going a be a lot of affect during heavy rain.
Since I can not inspect the property again coz I live in Sydney and the property is in Queensland I will let it go and will look for a new IP soon.
I also believe the deal of a life time come around very week or two.
Thank you for your adviced
Chandara
Keep buying guys, we are on our way to financial freedom and will live life to fullfilment.$ $ $ $$ $ $ $
$ One problem solved! $
$ Next problem arrive! $
$ $ $ $$ $ $ $
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