澳洲Australia property Fire damage home but restored | Sydney


在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo


Is it bad to buy a property that had an accidental fire in one of the rooms? The accident happened over a decade ago and had since been restored however there is charring on the timber? If the building report comes back to say the timber is safe, should I think twice?

Accidents like this, is it mandatory for the agent to disclose during the sale process or is it up to the buyer to find out? Would there also be insurance implications, eg insurance voids coverage of the room in question or premiums will be higher?

Any experience on this would be much appreciated. Thanks  

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giraffez said: ↑
Is it bad to buy a property that had an accidental fire in one of the rooms?Click to expand...
No, not really. As long as the damage has been repaired and the cause of the fire eliminated.

giraffez said: ↑
The accident happened over a decade ago and had since been restored however there is charring on the timber?Click to expand...
10+ years ago - it is ancient history (like old termite damge that has been repaired)

giraffez said: ↑
If the building report comes back to say the timber is safe, should I think twice?Click to expand...
No, not in my opinion.

giraffez said: ↑
Accidents like this, is it mandatory for the agent to disclose during the sale process or is it up to the buyer to find out?Click to expand...
If the agent knows then he must disclose, if it is a material fact. It could be argued that old fire damage, now repaired is not a material fact. The agent can't disclose what he does not know or if the vendor has not told him.

giraffez said: ↑
Would there also be insurance implications, eg insurance voids coverage of the room in question or premiums will be higher?Click to expand...
No.

If you come to sell again at some time in the future, this will come up on the new purchaser's building report too. You need to be prepared for that and possibly use that to negotiate a lower purchase price now (if you can). Otherwise it is a non-issue.  

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Thanks for that, that was really helpful.

So is it a fact that a property that has undergone fire damage and although repaired would sell with lower value?

As a vendor selling the property, do they need to disclose the fire to me? It makes sense that the agent can only disclose what he knows, but what obligations do the vendor have?  

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giraffez said: ↑
So is it a fact that a property that has undergone fire damage and although repaired would sell with lower value?Click to expand...
Only if it bothers the purchasers. Perception is reality.

giraffez said: ↑
As a vendor selling the property, do they need to disclose the fire to me?Click to expand...
Only of you ask the specific Q.

giraffez said: ↑
It makes sense that the agent can only disclose what he knows, but what obligations do the vendor have?Click to expand...
These days you have to declare a material fact. As I mentioned on an earlier post, there may be a case to say that a fully repaired, previously fire damaged house, is not really a material fact (as it is all fixed).

Best to do your own checks and forget what the agent or the vendor do or do not tell you, IMO.  

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Propertunity said: ↑
Only if it bothers the purchasers. Perception is reality.Click to expand...
Yes very true. Thanks, will have to wait for the report and hope its not too bad.

The decision is the hardest when there are defects (which there will be).

Thanks again  

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