I am buying a unit - who to contact for building review?

Discussion in 'The Buying & Selling Process' started by PropDir, 8th Apr, 2021.

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  1. PropDir

    PropDir Well-Known Member Business Member

    Joined:
    16th Nov, 2018
    Posts:
    662
    Location:
    Sydney, Australia
    Hi all,

    I am buying a residential unit which will be used as both an investment and for some other additional personal purposes.

    I will be doing the strata check for the unit as I would normally do, however I also wanted to do some due diligence around the building because it is a new/recently built building. Just want someone to check it it out (has around 2 blocks of units with around 35 units per block), to mainly ensure we don't have another 'Opal Tower' type building on our hands, and that it's a solid building structure and all fine. The buildings are only 4-5 stories high.

    Any thoughts/advice here would be good as it will provide some added level of comfort.

    Thanks.
     
    Gforce likes this.
  2. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,319
    Location:
    Sydney
    Pest and building inspection
    Strata review and report (eg financial issues with strata being underfunded and any maintennace and defects risks noted)
    Solicitor searches
     
    Gforce likes this.
  3. PropDir

    PropDir Well-Known Member Business Member

    Joined:
    16th Nov, 2018
    Posts:
    662
    Location:
    Sydney, Australia
    Hello - I'm aware of these, but would a 'Pest and Building Inspection' for a unit also cover a look at the health of the building as a whole? I know for a house it covers it given the house is relatively 'small' whereas a building complex of units is massive.
     
    Gforce likes this.
  4. Gforce

    Gforce Active Member

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    4th Oct, 2019
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    Oceania
    How did u go Prop?
     
  5. PropDir

    PropDir Well-Known Member Business Member

    Joined:
    16th Nov, 2018
    Posts:
    662
    Location:
    Sydney, Australia
    Hi Gforce - I bought the property in May this year - I investigated and did my research on the builder, read through reports about the building, and it all checked out well.

    The apartment is currently leased out to a tenant till July 2022, and I will be moving in there to use it as my own from that point. Very happy with the purchase.
     
    Never giveup likes this.

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