Part of our investment process was to enlist the services of a local valuer in Mermbula to inspect any prospective purchase. To ensure that we had a consistent approach we developed an Inspection Checklist for the valuer to use. This covered all of the key points we wanted inspected.
The inspection for 7 Imlay Street came back with what we expected, basically the worst house in one of the best streets with some great views. We expect to have to make some significant changes to the property to renovate it using the principals of Universal Design, so being a substantial “Fixer Upperer” does not really worry Desiree and I.
The property was recently “sold” but the sale did not complete due to the purchaser not being able to raise the finance. We want to get the property off the market fairly quickly as we believe that it represents great value in todays market. Consequently we have drafted up a letter of offer (Imlay Street Offer) which we send off tommorrow.