Thanks guys, Question: do you still need to conduct building & pest if buying a new apartment/townhouse and off plan or does the development pass muster by the local council when turn key is ready?
Great question Glenn, there is no right or wrong answer here. Generally the building and pest inspector is going to identify issues that have happened over time, like water leaking in the showers or asbestos in the ceiling but given its a brand new build its going to be harder to identify these things which is why a lot of people don't worry about getting one. Its a personal choice, if you're concerned it doesnt hurt to get one done.
@@glennwilliams9941 the bank doesn't mind if you do/don't get a building and pest. The building and pest inspector will check if the place has any major defeats, leaking water, etc... On the other hand the bank will send a valuer to the property mostly to check if you are/aren't overpaying for the property in the current market, they dont check for any structural issues. So getting a building and pest is entirely up to you.
I’m Ab abn holder and run my business for the last 4 years with steady growth each year, I’ve owned a house but my ex bought me Out recently. I have a small tax debt but paying my Loans off quickly and ahead of them all, I hope I can get a loan on my own again I’m Aiming for at least 10%. Thanks for the content really helpful to hear.
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Thanks guys, Question: do you still need to conduct building & pest if buying a new apartment/townhouse and off plan or does the development pass muster by the local council when turn key is ready?
Great question Glenn, there is no right or wrong answer here. Generally the building and pest inspector is going to identify issues that have happened over time, like water leaking in the showers or asbestos in the ceiling but given its a brand new build its going to be harder to identify these things which is why a lot of people don't worry about getting one. Its a personal choice, if you're concerned it doesnt hurt to get one done.
Ok great. I guess i was more asking if banks sign off on loans if this hasn’t been done or not or if the acknowledgement occurs at a valuation.
@@glennwilliams9941 the bank doesn't mind if you do/don't get a building and pest. The building and pest inspector will check if the place has any major defeats, leaking water, etc... On the other hand the bank will send a valuer to the property mostly to check if you are/aren't overpaying for the property in the current market, they dont check for any structural issues. So getting a building and pest is entirely up to you.
I’m Ab abn holder and run my business for the last 4 years with steady growth each year, I’ve owned a house but my ex bought me
Out recently. I have a small tax debt but paying my Loans off quickly and ahead of them all, I hope I can get a loan on my own again I’m
Aiming for at least 10%. Thanks for the content really helpful to hear.
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