WHAT HAPPENS IF I SKIP THE PRE-PURCHASE BUILDING INSPECTION?

Undoubtedly, property buying is the biggest financial decision for any family. This is an excited and anxious time for anyone as a lot decisions have to be made on a tight budget. In this situation people skip the pre-purchase building inspection to save time and money… could this be the most expensive mistake?

According to real estate experts, getting the pre-purchase inspection is a way to getting to know what you are purchasing. The inspection report reveals the actual condition of the property. It protects you from the expensive surprises in form of major building defects such as water leakage, mold, cracks in the walls, faulty wiring, just to name a few of the issues.

Even if these issues may not be a deal-breaker but a professional inspection give all the necessary information to make an accurate assessment of the real value to the property.

When should the building inspection be carried out?

Timing of the pre-purchase building inspection is critical. In private sales, normally building inspection is carried out before making an offer. The building and pest inspection report contain the list of all the defect and you can make a much more precise offer.

But in the case of a fast-moving market, buyers want to make offers as early as possible. If you still want to carry out building and pest inspection then there should be a condition in the contract of the offer. This inspection must be carried out within the stipulated time before the contract becomes unconditional.

If a property is getting sold through auction, then it is your responsibility to arrange the pre-purchase inspection before you bid. There is no cooling-off period once you purchase a property in the auction. You have to accept it as it is.

What if an issue is found during the building inspection?

In that case, you have access yourself if the building problem is a deal-breaker or not. Every property has some issues but if there are issues that affect the safety of your family or need expensive repair then you need to consider a second opinion.

Building and pest inspection provide you information about the small or minor defects which is great information for maintenance and prevent further deterioration.

At the end of the day, it may seem wastage of a few hundred dollars on the pre-purchase building inspection, but in the long run, a building inspection protects you from huge losses in the long run.

Whom should I hire for pre-purchase building inspection?

You should hire an experienced and qualified building inspector who have a detailed understanding of the building acts, building regulation and local building practices. A pre-purchase building inspection is a very specific professional. It needs extensive education, training, and experience.

Although it is challenging to find a good building inspector but Building Inspection Council can help you in this. Building Inspection Council is a not-for-profit community service. They provide free quotes from the pre-verified qualified building inspector. Being a not-for-profit organization, they do not have to compromise for profit. You get genuine and honest quotes. FOR FREE QUOTES, CLICK HERE.

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