A sign of Sydney’s crazy property market is clearly displayed when people are willing to purchase a home without seeing inside or even getting a building and pest inspection done.
Recently a Sydney Inner West home was put on the market by the Marrickville Council as the current owners had not paid rates in years.
In cases where rates have been unpaid for more than five years the council can sell the house and land, keep the overdue money and pay the rest of the funds to the former owner of the property.
Because the home was still private property the council would have had to ask the owners for permission for access, which they decided would not go down well.
While the land itself may be of high value because of its location, the house could be a wreck, rundown, termite infested, or fully renovated with a fantastic interior.
No one knows because no one has seen.
Unless you are fully prepared to demolish the existing home and build anew it’s strongly advised that you don’t buy blind.
Buying a home blind when you intend to live in the house can prove incredibly costly.
Depending on the state of the house it could set you back hundreds of thousands of dollars in repairs or even result in the demolition of the home, leaving you to start building fresh.
Before you buy a Sydney home talk to us about a pre-purchase property report.
Our local inspectors perform building and pest inspections so you know where you stand and can buy with confidence.
Call us on 02 9130 2499 to make an appointment, or book online today.
