Please let me know if I can do anything to help you in future!

Good to hear from you and thank you for commenting!

In my experience, the uncertainty surrounding the beginning stages of an engineering report create the biggest challenges for selling a property with an engineering report.

Markets hate uncertainty.

When the engineers are preparing their report there is no certainty as to the result.

Will a minor repair be called for or will the entire building need to be rainscreened at huge cost to the owners?

This uncertainty will cause a lot of buyers (particularly inexperienced or first time home buyers) to assume the worst and pass your listing by. Experienced buyers (or their lenders) will want to see the engineering report before they move or lend on a suite in the building. If there is a report pending they will wait until its published.

To avoid uncertainty, waiting until the engineering report is published (AND when the Strata Council agrees with its findings and recommendations) might be the best time to sell your place so that there is certainty for buyers about the future of the building.

Once the engineering report is published, hire a good Realtor who specialises in the the area and knows the building to sell your place. This Realtor needs to be able to clearly communicate what the situation is in the building to prospective buyers, so they aren’t turned off initially by mention of an engineering report.

Remember, engineering reports are not necessarily bad things!

They are a sign of a pro-active Strata Council that is willing to assess their buildings physical structure and more importantly (if they take action) make sure the building is in good repair.

Also, the results of an engineering report may come back saying the building is great and only needs minor repairs. This result could be a powerful marketing tool for you to get top dollar for your listing.

One more thing, if your engineering report comes back saying a large assessment for rainscreening is required, you know that once the work has been done, your building will be repaired to a higher standard than it was originally built. This could also be a powerful (though potentially expensive) marketing tool for your listing once the work is completed.

Great info BTW. I’m currently on the sellers side right now. My building is in the very begining stages of a Engineering report. The company has sent out unit surveys/questions first (asking about potential water damage), then they plan to inspect the building. How will this effect my potential selling situation? should I not even bother to sell right now until the report is complete? Overall the building has been managed well and there seems to be a decent emeregency fund. Any advice is appreciated.

Derek

I’m trying to do stationary shots with the non-stabilised HD cam.

More to come!

Good to hear from you!

A good Home Inspector if notified, will make time to thoroughly read any Engineering Reports available. If they say they don’t have time to read an Engineering Report, fire them on the spot.

If available, an Engineers Report will tell you if the building you’re interested in is a leaky condo or not.

Engineering Reports (sometimes Envelope Analysis) are critical documents about whats happening and what may happen with the building envelope. It also will lay out what the Engineer has recommended for building maintenance.

A good Home Inspector will compare observations of the building to what they see in the Report to ensure the Strata is actually doing the maintenance recommended in the Report.

Strata Minutes – A good Home Inspector will read the Strata Minutes and should be available to answer a Buyer’s questions about the minutes with regards to the building.

Some inspectors may charge an extra fee, but talk to the Home Inspector you’re comfortable with and find out.

What are your thoughts on the still shooting? Is it as evocative as the walk and talk that you didn’t like?

Thanks again!