Hi,
Just had a pest report on IP and their some signs of termites in the roof. House is Block and iron construction so it is in the roof only. This has no attic it is timber and then roofing on top(Flat).What would you do in this situation may have a few thousand dollars damage.This has an excellent rental yield over %12.
Dom[
]Dom, either see if you can negotiate the price with the vendor, or ask them to fix it. Depends on how much they want to sell I guess.
If you can’t get any discount, ask yourself is it still worthwhile to buy factoring in any extra costs you now will have to pay to treat the damage, and get rid of the termites.
Cheers
MelHi Dom
Mel has offered good points. I suggest if you still want to buy the IP would you not look at adding the cost of roof replacement to your mortgage. I prosume you are financing.Over the term of loan it could be a small price to pay in the big picture.Regards
Bernard
Thankyou melbear,Bernard for replies,vendor has offered to pay for treatment and minor repair.A load of my mind(Settelment today 10/03/04) and a good outcome for both of us.
Dpm[]Dom
Make sure it’s a reputable Pest Co and get certification that termites are gone and treatment has occured
A lot of ‘dodgy’players in the pest business, so ensure you get a good Co
By the way, was there evidence of termites ( been and gone ? ) or termites still in place ?
Once termites get into the structure of a building it’s a pain , lots of hidden areas they may have been..
REDWING
PS – your moving *fast*[^]
“Money is a currency, like electricity and it requires momentum to make it Effective”
Redwing,
Been and gone.
Dom[]most of my building reports where temrites where close to the house advised against purchase, the reason being was that they would no guarantee eradication
termites in the yard are more controlable, but in the house, well costs anyway.
I ahd the option of having the owners treat one house. My condition was that it was an independant quote and reputable pestie. Their idea was that they would treat the termites as part of the contract. BUT they would be doing it themselves.
I said no go.
Nothing to say unless in the contract, who will be treating the termmites, only who pays for this action. I kinda like control over what I am paying for in the long term and their pest treatment didnt satisfy my termsElves
I would find out what the last offer was and when that was??
Get your pest inspector that did the report … to give you an estimate on cost to do repairs…. then offer to pay what ever price you decide is fair and then conditional to the eradication by a mutually agreed pest company … then you will get your guys to go in again and make sure all is ok.
All this must be done prior to completion of contract… if work is not done by say 10 days prior to settlement…. Then vendor must reduce sell price of property by an agreed value to allow a commercial reason for you to get a soft discount on the property to cover your eddorts to do this job..
Just a thought….
Cheers
Kiwi
[]a friend said he had a great pest controller, who even mixed the chemicals in front of him on-site ( watering down seems to be a concern)
don’t forget in a lot of areas termites are always around, in the soil ‘no problems’ once their in the house $$’s could become an issue.. we have termites in the soil of our property, had an inspection and also a friend in the industry visited and checked things out, as he said regular checks are paramount, and try not to keep areas too close to the house ‘moist’
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
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