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How to use building inspections to negotiate big profits

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Your Investment Property | 14 Mar 2013, 12:00 AM Agree 1
An inspection report can deliver more than simply peace of mind. It can also pave the way for substantial savings and hefty purchase discounts.
  • vipin | 26 Nov 2013, 08:09 PM Agree 0
    Its amazing, looking at the time and effort you put into your blog and detailed information you provide. I'll bookmark your blog and visit it weekly for your new posts.
  • Amber Action Property Inspections | 15 Oct 2014, 02:47 PM Agree 0
    I cannot recommend enough the importance of a building inspection on any property not matter the age. You never know whats underneath the surface to the untrained eye which could cost thousands of dollars in repair bills. It could even save you a fair bit in contract negotiations as well.
  • nadine | 11 Aug 2015, 10:37 PM Agree 0
    Having had offer accepted and signing contract, the building and pest inspection had some issues so we were able to negotiate a lower sale price. The bank valuation had already been conducted and came in at our original offer but the new sale price was -$20k. The contract was amended and initialled by all parties. Our mortgage company advised that the valuation would need to be ammended to reflect the reduction in price and having gone back to the valuer have now asked for our building and pest reports. Is this normal?? I cant find anything anywhere to indicate if it is.....
  • Alona Martin | 19 Oct 2015, 11:16 PM Agree 0
    Proper Building inspection is necessary to earn higher profits.It's management is the another thing that we should be concerned about.
  • sandra | 14 Dec 2015, 12:37 PM Agree 0
    hi i just had the pest and building report done at the property i placed deposit on 1700 and i was told there're termites in some areas and trunk in front of home.
    there was evidence that beams had been removed in roof and we also have an asbestos fence , and side steps that are rusted hence a health hazard. i will receive report later today but was told by assessor that this is high risk property. my query is how will i know how much everything may cost and if I should proceed to purchase high risk home .im so sad about this but at least I'm aware of the issues..
  • TrishMS | 20 Jun 2016, 11:01 AM Agree 0
    Our laws should PROTECT innocent buyers and tenants so that their buildings are safe to live in! All Australian states should follow the ACT law (since 2003) that obliges full disclosure of the condition of the property by the seller such as a building & compliance report, pest report and asbestos audit for relevant properties. It should not be up to the Buyer or tenant to uncover the structural and safety issues! Time to urgently update our laws! There is a petition about this - please sign it to change our laws in the interest of consumer justice.
  • CM | 29 Jun 2016, 02:37 PM Agree 0
    Hi I am really keen for anyone's thoughts

    I have been negotiating direct with my landlord for purchase of an older-style apartment in Melbourne
    We went through some negotiations and are now working with a draft contract. Conversations have been run across the past 2 months.
    In the meantime I have had building and pest inspection done which has indicated the (previous) existence of termites. No live termites were discovered in the areas examined but termite damage was. I have reverted back to the vendor and given her a surprise it seems. She has told me that I should have brought up the termite damage during the tenancy! Except it has required a specialist to do that and she has been with the apartment for ten years.

    She won't budge on price - I DIDNT even go ahead and ask!! I am ideally seeking a small compensation for repairs and also for risk because under the floor could reveal more. I think it is her unreasonable comments that have really rattled me. Could have been worse, I could have done the building inspection in the cooling off period! Any other suggestions to negotiate price ?
    • TrishMS | 29 Jun 2016, 02:56 PM Agree 0
      I suggest that you arrange for a professional termite inspector/technician to provide you with a written quote to repair/ replace the termite damaged areas and cost of treatment to prevent further termite attack. Ask your solicitor to provide those quotes to the vendor's solicitor to negotiate either a price reduction or to carry out the necessary repairs/replacement and treatment. All the best!
  • Won_woman | 28 Nov 2016, 09:32 PM Agree 0
    We just found a beautiful costal home 10 years old backs onto bush reserve in port stephens. Building inspector says hes suspects old termite damage through subfloors there was damage to architraves in garage and he suspects theyve come up to 2nd level of house. He says he has no evidence but suspects damage. Owner has had enviro pest do treatments from construction of house to every six months. Would you still purchase it
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