A Building & Pest Inspection is Non-Negotiable
It can be exciting when you think you’ve found your dream home within your budget! However, before you become too excited, it's crucial to prioritize a step often overlooked—professional building and pest inspections. Even if the property seems perfect on the surface, hidden issues like pest infestations, water leaks or structural problems could be lurking beneath, potentially turning your dream into a nightmare.
The Inspection Process
Qualified professionals conduct thorough inspections, examining various areas, including the interior, exterior, subfloor and roof areas of the home you are considering. A comprehensive report is then provided, detailing findings and potential impacts on the property over time.
The Inspector
Select a qualified professional, with adequate insurance coverage. Ask questions about their adherence to Australian standards, inspection areas, report details, experience, and qualifications.
When Should I Get An Inspection
This depends on the method of sale for the property you have found. If the property is a private sale, you can consider a clause making the sale subject to a satisfactory inspection. Your Key Advocacy recommend using your own clause, preferably written by your conveyancer, rather than the standard REIV contract clause.
For auction scenarios, ensure the inspection is completed before bidding to avoid commitment without a cooling-off period. An inspection completed before entering negotiations on a private sale can also put you in a stronger position and give you a better overall picture of the property you are negotiating on.
What's Included in the Inspection Report
While Australian standards outline report inclusions, they can vary. At a minimum, major defects and serious safety hazards are highlighted, with an overview of minor issues. The report can also serves as a valuable tool for negotiation and decision-making.
Interpreting the Report
Although inspection reports may seem daunting, inspectors can walk you through their findings. However, they won't advise on whether to proceed with the purchase—consult your conveyancer or advisor for this crucial decision.
In conclusion, building and pest inspections are not just a formality but a critical step in ensuring your property investment is sound. Use the information to negotiate a fair deal or, in extreme cases, to avoid a potentially costly mistake. Remember, a well-informed buyer is a confident buyer
If you need a Building & Pest Inspector and don't know where to start, reach out to Your Key Advocacy and we will get you in touch with a qualified inspector that has experience in the type of property you are considering
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