Building and Pest Inspection Insights survey

Discussion in 'The Buying & Selling Process' started by Mumbai, 14th Jul, 2020.

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  1. Mumbai

    Mumbai Well-Known Member

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    Hi PCers,

    Looking actively at lot of properties in different suburbs and going through auctions, I have been spending quite a bit on the B&P reports. Have been wondering how the peeps out here manage it and if they are in same boat as me.
    I jotted a few questions on Typeform.

    Building and Pest Inspection Insights

    I will appreciate if you can answer this short questionnaire.

    It should not take more than a couple of minutes.

    @Simon Hampel Please feel free to move this to other forum if not in the right one.
     
  2. Trainee

    Trainee Well-Known Member

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    If you are spending on a lot of inspections, but not winning auctions and your offers are not being accepted, then the problem is you arent offering enough.

    unless you end up buying something way below ‘value’ (whatever that means) and it’ll be worth it?

    either increase your offer amounts, or be even pickier about making them.
     
    Last edited: 14th Jul, 2020
  3. Mumbai

    Mumbai Well-Known Member

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    Agree with all the points above.
    Looking to purchase 'below' market value ( whatever it means).
     
  4. Mark F

    Mark F Well-Known Member

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    In the ACT a building and pest inspection report is provided by the seller. I personally do my own inspection with the report in mind and access areas the inspector does not - they don't like to crawl. I occasionally find things not picked up by the report but nothing that would deter me from buying.

    As I buy to renovate doing my own "deep dive" I have a good understanding of the construction which makes planning the reno much easier and avoids many costly problems - eg which walls are structural.
     
  5. Trainee

    Trainee Well-Known Member

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    then you can expect a high ‘fail’ rate and lots of inspections are a cost of the strategy. Or, be much better at picking sellers who will sell at below market.

    if you dont succeed in actually buying anything, whats the point of the strategy?

    Buy at market value, when the market is crap instead.
     
    Melbourne_searcher likes this.
  6. Mumbai

    Mumbai Well-Known Member

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    Thanks to the few people who went through the survey.
    It also pertains to investors who buy more than a few in a year and buy interstate with site unseen.