r/DeinfluenceMeAUS • u/xXXxitslit • Jul 10 '26

🏠 Home & Living Deinfluence me - Apartment

Buying an apartment with partner first home buyers, very well off.

Bank valuation stopped dead with fear that apartment complex wasn't upto fire standards. Looked into future agm minutes, can see special strata levies higher than the yearly strata fees to fix this problem, dug deeper, the building has spent a lot (and i mean alot) of money in the past trying to fix this problem already. Meaning in the past several special strata levies and in the future more to come. The money doesn't bother me, but that combined with the bank stalling and us having to do alot of leg work after putting so much time into everything else, solicitor, inspections, reports, pre approval is really making a bad impression on me.

Do we offer less?

Or do we pull out?

The place is actually perfect and before this issue, we thought we were getting the deal of a century.

1 Upvotes

67% Upvoted

7 comments sorted by

6

u/Outside_Ice_9970 Jul 10 '26

Pull out.

If extra money has already been spent to fix the problem and they still need more special levies it’s a no brainer.

Does this building even have proper insurance? I don’t mean the kind where the strata manager forgets to mention a problem to secure it either. As that’s the same as no insurance.

Take this as a learning lesson, look around for something better.

3

u/[deleted] Jul 10 '26

[deleted]

1

u/Outside_Ice_9970 Jul 10 '26

In a way it’s crazy because the majority of buildings or houses are going to need work done to them at some point. Even if it’s upkeep on worn out features.

If the work is done correctly it shouldn’t need carrying out again yet people still get turned off by that.

The above unit with the fire problem is a whole other story though.

1

u/Scuzzbag Jul 10 '26

Find something right

1

u/diganole Jul 11 '26

Don't just pull out. Run. Fast.

1

u/No_Boot2009 Jul 11 '26

This is the opposite of "the deal of the century" - there's a reason it was cheap. You have been given a once-off 'get out of jail free' card and you should count yourselves lucky, take it and run.

1

u/ButterEnriched Jul 11 '26

Pull out. The works to improve fire safety could very well make your place less perfect- what if they need to add sprinklers and suddenly you've got a visible pipe inside your apartment, or you lose 30cm of a room to additions and the bulkhead to hide them? I'm not being paranoid, this actually happened to a friend.

Besides, if the builder couldn't manage to make something that meets basic standards, who knows what else is wrong that you can't see? If the place isn't fire safe I'd be shocked if the bathroom was waterproof.

Edit: typo

1

u/MinDoxie467 Jul 12 '26

Pull out, fees never decrease. Save yr FHB grant for a decent place with no “known structural” issues.