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 Subsale properties problem, Discovering undiscovered problems!

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KLsooner
post Mar 27 2013, 10:39 AM

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suck the termite issue up or loose the Depo, you did not do your dd good enough.

there is always a price to learn.

What you can do now is to access new roof cost vs 2% depo, which one is more heart breaking, then you decide.

since you are looking for old houses in good location, screw the condition and plan for renovation anyhow; why roof replacement is not in your budget? You may even want to factor in wet work in your budget as water pipe could be rusty and leaking, are you going to blame the agent for not telling you this?

If this house got termite issue on the roof, high possibility the other houses in the same area also got infested. Something you can't avoid if you really want a house in that location.

Sorry of being harsh, but that's the facts of life.


KLsooner
post Mar 28 2013, 09:14 AM

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QUOTE(rivacordex @ Mar 27 2013, 04:39 PM)
KLsooner: I agree with you in regards to most of the things you mentioned, except for the roof.

We unfortunately didn't plan for the roof replacement. I have indeed factored in the wet works, water pipes, etc,  thus am not complaining about the rest of the condition. Usually, subsale from what I've known, you don't have to fix the roof (or at worst, minor / major leakage which can be sealed, fixing some rafters etc. which is minimal). I reckon that if there has been termite infestation that has occurred, it would be a good heads up if informed as well as part of the deal, especially the roof which is something you don't really inspect when you look at a house, and you can almost never fully assess the full extent of termite infestation damage.

However, it certainly is starting to be a very expensive lesson. I'm considering the cost of changing / replacing of the roof in now, and see how my decisions goes.

One last thing, can I just know, if anybody else is a subject expert on what happens to the 2% depo which gets forfeited?

Thanks.
*
Cheer up, you ain't that bad compared to those "rich waterfish" that loose their 2-3%depo in their quest to own a DPC prop. These people were shown the "Toyota hilux" when realised approved bank loan is some half a mil away from selling price and can't fork out so much hard cash before S&P but to forfeit the depo.

Agents are legally right not to tell everything about the prop but morally wrong from hiding the facts from you.

I suggest you take up the unit at least you do some favour to future victim la, chek some yam tuk, good for you and your family.

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