Rising damp and termite damage. Two issues that would normally send shivers down your spine and see potential buyers running for the hills.
But what if you could you turn a negative building inspection report, into the ultimate negotiation weapon?
Real Estate Agents and Buyers Advocates around Australia are encouraging buyers to view some of the most common building inspection issues as opportunities, rather than just reason to pull out of a sale and walk away.
Rising house prices, stiff competition and supply/demand issues mean that more and more buyers are investigating the cost of repair and using inspection reports to turn a negative into a positive by negotiating more realistic asking prices.
Jim’s Building Inspections Director Paul Commerford said that whilst the cost of building inspections can add up, it is a very important step in the real estate journey.
‘More than anything it pays to be informed about potential problems before purchasing a property,’ he said.
‘Factor in the cost of repair into your offer or be content to walk away if the numbers just don’t add up. Research is key – ask the right questions, negotiate skillfully and unemotional. As hard as that is!’