New House, Sharing a Pre-Existing Building and Termite Inspection

Llew380 on 03/08/2020 - 22:02
Last edited 04/08/2020 - 22:36

We brought a house using good finance. Which overrode other offers.

The house was already under offer and the buyers had already got a building inspection and termite/pest report.

They have contacted us to try and get us to buy their report and thus, save them wasted money and maybe a little drama for us.

Is this a terrible idea? It seems that we would void much of the report as It won't be in my name and thus wouldn't hold up to a court inquiry or anything. But do these reports ever go that far?

It's my impression that it's more about finding a few faults potentially to haggle, and not too much could go wrong if it's not in my name. Is their anything else I should take into consideration?

Financial

Comments

  • stainedteatowel on 03/08/2020 - 22:09

    Not quite the same position, since the others did not contact us trying to sell us their report.

    Bought a place that previously was under offer, which then fell through. We made an offer, and were advised of some pre-existing termite activity, we went ahead with a building / pest inspection still. Considering the amount you spend purchasing a house vs the 500 - 600 you spend to get your own report, it makes sense to just get one.

    The bank you have your loan with may care as well, as for ours it was required we'd had a building / pest report done, I assume there may have been issues if it wasn't in our name.

    Good luck, enjoy the new place.

    • lew380 on 03/08/2020 - 22:22

      We have the finance but don't have it all ironed out with banks yet, that's a fair concern. They might get picky

  • PissLUR on 03/08/2020 - 22:14
    +4

    Brought a new house? How?

    • Donaldhump on 03/08/2020 - 22:29
      +1

      Popped it in the boot

  • kahn on 03/08/2020 - 22:19
    +1

    Is their anything

    facepalm

  • lew380 on 03/08/2020 - 22:25
    -3

    *Face palm

  • TTSMarkets on 03/08/2020 - 22:32

    ok fine
    i can understand

  • WreckTangle on 03/08/2020 - 22:32

    The last termite report i got cost less than $300 if that helps with your decision

  • JIMB0 on 04/08/2020 - 06:23

    If it's new then why do you need an inspection? To check the quality of construction?

    • lew380 on 04/08/2020 - 22:36

      It's new to us, the house is a decade+ old!

  • skid on 04/08/2020 - 07:58

    Pay half?

  • Realsteel on 04/08/2020 - 08:41
    +1

    Check with the Real estate agent for the company which did the report. Call them directly (offer half or something reasonable) and get the report under your name. This what I did not too long ago.

    • lew380 on 04/08/2020 - 22:37

      I like the way you think! 😏

  • Amaris on 04/08/2020 - 09:17

    Do you know why the other parties offer fell through? I'd be especially careful as the reasons agents give is usually not the whole truth.

    • lew380 on 04/08/2020 - 22:39

      The other offer was subject to sale, we had better finance so we got it by default. It wasn't a fair fight!

  • djkelly69 on 04/08/2020 - 10:05

    It seems that we would void much of the report as It won't be in my name

    You can't rely on anything in someone else's report.

    I agree with the idea to try and contact the inspector who did it and see if you can get your own report cheaper and/or faster.

  • Almost Banned on 04/08/2020 - 11:23

    If you want the report ONLY to know what the report identified, then I guess you can go ahead.
    If you want the report to give you an additional target to sue in the event something goes wrong then you definitely should not buy someone else's report.

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