Forums / Property Investing / Help Needed! / Buying our first property but unsatisfactory building inspection. Please Help !

Viewing 4 posts - 1 through 4 (of 4 total)
  • Profile photo of DeeksGrahamDeeksGraham
    Member
    @deeksgraham
    Join Date: 2013
    Post Count: 1

    Hi All

    My husband and I are looking to buy a property in St James, WA. We made an offer on a character home we liked. The house looks nice and in good condition but the Building Inspection report came out with major defects in the roof structure. This included replacing "Ceiling battens" , "wood struts buckling" " split timbers in struts and rafters" and also some sagging ceilings (15mm sagging). Does this sound like a major expense ? Should we walk away and withdrew our offer?  It is a 3 bedroom 1 bathroom house. We are not sure what to do now so any advice is welcome.

    Thank you

    Profile photo of Josh AthertonJosh Atherton
    Member
    @josh-atherton
    Join Date: 2011
    Post Count: 269

    Hi, 

    1. For Investment Purposes:

    Your next move will really depend on the research you have done on the area and the property. No doubt you believe the area and property will provide a good return and or capital growth, otherwise you wouldn't be buying it. if this is the case you could get the repairs quoted and negotiate the amount by the quote if the owner is willing. Most period homes will have some repairs that need to be done either immediately or in the future.

    2. For your principle place of residence:

    If you love the home, emotions may be strong and the same actions could be taken as above. 

    Failing the above outcome is acceptable, you could walk away from the contract due to unsatisfactory B&P report (assuming you can still). The issues however do not sound small, sagging ceiling etc is not a minor issue albeit 15mm. 

    Good luck!

    Profile photo of FreckleFreckle
    Blocked
    @freckle
    Join Date: 2012
    Post Count: 1,681

    Sounds like a tile roof…most of this stuff is not difficult to fix. Almost impossible to replace ceiling batons without taking out the interior ceilings, rebattoning and then regibbing though. It comes down to the extent of the work, cost, time etc as to  how you might revalue a property if you still want to take it on. You could end of with a better valuation if you can get the property at a discount and complete a reno on it for a reasonable price.

    Profile photo of Reno101Reno101
    Participant
    @reno101
    Join Date: 2013
    Post Count: 26

    Hi , it sounds like your looking for a home to live in ,there will be a lot of work involved  in redoing the repairs  to make it right , the question is  do you want to spend the money time and effort to repair it , if not, walk away , a lot of people cannot live in a house while doing major renovations , hope this helps  – from a seasoned  Renovator .

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic.