Yesterday I completed a pre purchase building and timber pest inspection in Hoppers Crossing. The house was about 20 years old and in excellent condition for its age, almost nothing to put on the defects list.

Whilst speaking to the vendor’s agent I found out that this house was an absolute bargain, perhaps reflection of the current state of the property market.

I called the purchaser to give him the verbal summary and the good news and told him that this was the best 20 year old home I have seen for about six months.

I was surprised then that the purchaser told me he cooled off. When I asked him why, he told me he just found out there was a covenant on the title that would prevent him from building a dual occupancy (even though the land was big enough)

There you have it, a perfect investment property that’s not good enough.