I recently came across a home buyer looking to purchase a property in Bentleigh, VIC. She made a conditional offer on the property and engage me to do a comprehensive building and pest inspection. Unfortunately she was unsuccessful in her conditional offer and had to cancel the inspection.
For the buyer this is obviously an inconvenient situation, but having said that there are lots of properties coming on the market. I see from my exposure to real estate prices and people that the market is hot at present and in areas like Bentleigh where the buyers seem to be competing fiercely with one another. Crazy stuff. Actually, I observe this group of X and Y gens all looking for the same thing, a house they can live in right now, which doesn’t need too much repair, and they are certainly not interested in a renovation project.
But it you can deal with renovating an older home, you will lessen the buying competition and maybe get a house which hasn’t been cheaply renovated by its previous owners. That’s what I would do, but hey, I’m a baby boomer and that’s what our generation does.
Another option for potential buyers is to make your offer unconditional and tell us immediately so we can do a Pre-Purchase Inspection for you within the three day Cooling Off period. That might help your offer look more attractive to the vendor. It’s all a game.
Inspection Principal – RBP – MBA