It didn’t help this week that at the 11th hour the owner of the first apartment I offered to buy came running back and told us he might have a deal with his bank to get him out of the mess he was in and be able to offer us a "mortgagee sale" divorced from his extra debt, then a few days later the whole thing was off again as the bank wouldn’t come to the party. Meanwhile I had to leave the other people in limbo wondering if my offer on the 2nd one would still stand.
Just a couple of nights ago I had the doubly uncheerful news that not only is the deal on my first choice property definitely off, but also the strata report on the 2nd one has come in with references to investigations of concrete spalling (moisture getting into the concrete slabs of the balconies and causing them to partially break apart) and no indication that proposed repairs (costing maybe $7000-10000 per unit in the block) had ever been done. The information on what has been done about this (or not) has proved hard to track down, but my lawyers and the agent are working on getting it. If this repair work is outstanding I’ll have no choice but to abandon this one. It doesn’t help that this area is one of very few which is both a suitable area for me to live and has any properties satisfying all the main criteria for what can be called an "affordable" price. If the outcome is what I expect I will have no hesitation in saying I am thoroughly jack of this exercise and will have very little enthusiasm to continue. More news when I have it…
Astro's random writings 