There might be no house purchase for me this month
House at auction went for way more than I was willing to go (which was well above market value)!
House I put an offer in I had a second inspection last night on and there's a few things wrong with it. Getting a building inspector to go thru it early tomorrow morning (before I got interstate), and I've instructed him to look for water damage in the ceiling and down the wall cavity. I strongly believe there will be hidden damage, and the owners thought paint would cover up anything. Considering the vendors are asking $5K above median price in the area (on par with Cheltenham houses) and especially $50K above suburb prices (houses in Rosewater range $310K to $330K average) ... I do not believe it will be worth $375K even with the extension (which I suspect does not have Council approval).
Shopping for a house is so much hard work ... jesus, there are some real disappointing homes out there
There is one final house I'm looking at in the area well within the market range and looks to be in better condition. I might arrange an inpsection next week when I return. If nothing comes from this one, I'm giving up looking until the end of the year. Everyone knows the housing market is on its way down, and most vendors are trying to get as much as they can now despite there being some problems with the house!
I'll have pleasure telling the vendor I'm retracting my offer due to hidden faults with the house they were aware of, if it comes to that.