You find a property you love, you sign a contract, your awesome mortgage broker gets your finance approved and in your head your home and hosed… BUT… your building inspection comes back and it’s not great.
What can you do?
First things first:
1. Get your building inspector to put their report in writing
2. Take that written report to your conveyancer / solicitor and discuss it with them.
If there’s grounds to take action based on the building report you typically have four options to then work through with your solicitor or conveyancer:
1. Decide you no longer want this property and end the contract.
2. Decide you do want the property, but you you want the seller to rectify the issue
3. Decide you do want the property and you want to pay less based on the defects
4. Decide you do want to go ahead with the purchase and don’t want to do anything about the issues.
Your solicitor or conveyancer is your key contact during this time to help you work on a plan to move forward in the right direction for you.