澳洲Australia property Structure / Reno Question | Sydney


在澳大利亚 Hi Guys, Ive found a property that has mentioned two payments coming up of $1400 to apparently top up the admin fund and 2 have just been paid. Im looking at a financial statement (basically a balance sheet) for the strata and its all a bit Hi all, I currently have a PPOR and 10K cash in the bank which I plan to use as a deposit for a IP early next year. Is it possible for me to place this into my PPOR loan and then redraw the 10K when Im ready for the IP and then claim the int


Hi All,

Went to a auction yesterday with no intention of buying, just tyre kicking at the moment.

I will just give you a bit of background on this property, then ask the question?

The house was in Burwood East (Victoria), brick, circ 1975, good gardens, roof looked fine, quiet dead end court, great location, 3 bedroom, new bathroom, old kitchen..........BUT.......... lots of cracks in the brickwork, like zigzaging thru the mortar, timber window out of shape or house around it out of shape. Inside, large cracks, thru ceiling and walls.
Before the auction, a lot of people were talking about the cracks everywhere, inside and out. (I like to listen to what people have to say)

Advertised for $230k - $270k, 120 people at auction, 4 people bidded, sold for $310k

My question is, what is this guy going to do with this property? Is it just a matter of restumping? Seems to need lots of $$$ spent on it. The house nearly looks unsafe?
Does anybody know this area? Would he have paid $310k for land, knock the house down?

Thanks

Gordon Gekko  

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Alittle confused, is the house on stump or concrete base or both?
If its on a concrete base then I would think they have to either demolish or underpin it. Both are going to be cost $$.

The house behind me subsided, causing cracking like you said, they spent $15k I think and it subsided worse, had to get them back again but I don't know the outcome, its still empty after 8 months and it was meant to be an IP for rent! It's on stumps.

My mate found a underground leaking tap renovating his house, fixed it and half the bedroom came away with the drought over the next few months, he could put his hand in the crack up the wall, it was brick house on concrete base. He had a qoute of $14k to underpin but did himself for under $1k, he's been a chippy for 15years and got mates rates ($0) on all equip. He said it was a bloody hard job digging down then under the house and pouring heaps of concrete into about 8 of these, plus jacking up the house. House is fine now but that was 1 leaking tap and took him weeks.

Your house sounds like a disaster. It could be moving/subsiding land or tree routes or both, either way I would avoid these ones as it's unknown territory in the $ stakes. Unless you like a challange :)  

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Thanks chris,

Now that you mention it, there was a big tree out back close to the house which had lifted part of a footpath next to house.

Not sure if the house was on stumps........but i thought the age of the house (30 yo) might have suggested stumps.

Thanks  

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Trees also get into the plumbing, if they are under a concrete slab then you can bet money they will be into the old sewerage and stormwater pipes. Again more $.  

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so either this guy who bought it, didn't do his homework or he is going to knock it down. If so, $310k is a lot of $$$ for a block of land in East burwood, Melb.:rolleyes:  

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