Buying a house that was previously sold on an As Is Where Is basis can be a very bad idea. Risknet has inspected hundreds of these houses and most, yes, most have outstanding issues. A future insurance nightmare is not your only problem.
Risknet Knowledge
Only Risknet has taken the time collate the data and history of sales for thousands of properties sold in Canterbury, those that were ‘written-off’ by Insurance companies. yes, you read this correctly. We collected data over many years, and more importantly in many cases the data has been deliberately deleted from public view. We know, and your insurance company knows.
Auction rooms are designed as pressure cookers.
Talk to us first, before you put pen to paper, or raise your hand at an auction. Auction rooms can quickly become a place when frenzied, poor decision making occurs. We have seen the results of buyer remorse too many times to count. Buyers remorse is where a purchaser bids at auction, wins the auction and then thinks ‘what the hell have I done?’
That ‘what the hell’ moment may be the same day or many months after they take possession.
The degree of panic depends on what the new buyers discover about the property after they have a mortgage on it. Risknet has investigated many clients houses and found significant issues that were not disclosed by previous owners, and to be fair some previous owners were also left completely in the dark when they purchased. The problem does not go away by pretending it doesn’t exist.
Buyers carry most of the risk
Buyers, you have far too much risk, and a lot more to lose as you are the most exposed to future insurance issues. If Risknet thinks the house is not quite right for you, then we will suggest you look at other alternatives. We have literally stopped an inspection mid-point and have suggested our clients find another house. The most recent was on the 11.06.2024.
View our brief informative video that explains your real risks when buying these types of properties As Is Where Is risk
Watch the video below.