After reading an ABC news article about recent troubles at another NSW apartment building with severe defects, the article mentioned that the Owners had been pursuing the builder for defects since 2018.
A new apartment owner purchased into the scheme in May and seemed to have known nothing about the problems when he purchased just 6 months ago.
Why was this new owner unaware of the issues before purchasing? What could potential purchasers do differently before buying and what questions should they be asking? To answer these questions and more, we recorded this discussion with Michael Ferrier, Managing Director of Eyeon Property Inspections.
Michael shares some practical tips on ways to help ensure you don’t end up an owner in a risky building. We discuss the following questions in detail, plus many more invaluable tips:
- Are there risks in buying into newer apartment buildings in NSW?
- Are all newer buildings equally risky?
- Aren’t new buildings covered by a building warranty?
- What are the risks? Financial, Practical, Personal
- How can purchasers reduce the risks of buying into a “bad” building?
- What are the sorts of things buyers should be looking for before they decide to buy?
Michael Ferrier Eyeon Property Inspections E: michael.ferrier@eyeon.com.au P: 02 9260 5510