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Our Pre-Purchase Inspection Guide
This guide will explain the process of a
pre purchase building inspection, how to go about getting one done, and why it is important to get proper
building inspections and
pest inspections completed if you are considering
making a purchase.
Pre-purchase building inspection and pest inspection overview.
A
pre-purchase inspection is a report completed by an objective and
qualified building inspector which details the findings of a full visual inspection of the condition of your prospective home. A
pre-purchase inspection will allow you to be informed about major problems and issues that may be present within a
property before you sign a contract of sale.
What does a pre-purchase building inspection examine?
A
professional building inspector is specifically trained to detect problems and
report on defects that may be hidden to the untrained eye.
Your inspector will check for various defects in both the interior and exterior of a house.
Some
common issues identified by an inspector during a
standard building inspection are:
- Cracks in brickwork
- Rising damp
- Sub-floor ventilation issues
- Concrete cancer
- Structural damage or degradation
- Electrical issues
- Roof damage
- Ventilation Issues
- And a range of other issues ..
read more about Common Inspection Issues
Why do you need a Pre-Purchase Inspection?
Hidden Flaws
Many homes can look fantastic from the outside and have faults within that can only be spotted by a trained eye. Both
building and pest inspectors can save you the trouble of uncovering costly problems later down the road.
Fault Costs
You needn't be liable for
faults in the property that existed before you moved in.
Getting a pre purchase building inspection can give a prospective buyer tools to negotiate with the seller or even have repairs made before before a contract is signed.
Investment due diligence
Buying a home is a
significant financial investment. Getting a
pre-purchase building inspection completed ensures that you have an adequate amount of information before you make a final investment decision.
Objective Assessment
You should always know exactly what you're getting into when
buying a home. An
objective building inspection report will give you a clear picture of
the condition of a home before one enters into an agreement.
How much does a building inspection cost?
Overall costs for a typical pre-purchase building inspection can vary based upon the property's size, location, and available facilities included in the site.
Generally speaking, the pre-purchase building inspection cost will be approximately between $300 and $500 depending on the factors listed above.
Large properties with features like swimming pools will, of course, will affect the cost of a building inspection, as will a property for which the inspector will have to travel great distances to make the inspection. Pest inspections are often offered in conjunction with building inspections. Companies usually offer a package discount in this case when a building inspection and a pest inspection are combined which can result in a lower overall cost for your building inspection. Be sure to include the cost of a building inspection into your budget.
Different types of pre purchase inspections
When do you need to do a pre-purchase home inspection?
These are some common time periods in which you should consider having a
pre-purchase building inspection completed
- During The Cool-down Period: Some states' consumer laws include protective cool-down periods after the vendor and buyer have entered into a contract for a property purchase. This allows a buyer to purchase a property quickly and have an inspection carried out after the sale has been finalised. During the cool-down period the buyer has the option to withdraw from the contract of sale if the inspection report exposes significant flaws in the purchased home.
- Before the contract of sale is signed: In areas where a cool-down period is not provided by law, a pre-purchase property inspection should be undertaken prior to the signing of the contract of sale.
- Before buying at auction: If you are buying a property at auction, the home inspection report should be obtained before the auction takes place.
Your building or pest inspection report
Should contain a General Overview
This overview will be based upon the
inspector's walkthrough of the property, and it should provide both a
general summary of the condition of the building and a detailed list of any defects discovered during the inspection for either eventual or immediate repair recommendations.
Your inspector might also recommend that further investigations are carried out by a specialist, i.e., a
pest inspector, a
structural engineer, etc. and will often have some reliable industry contacts on hand.
Should be Independent. Professional. Objective.
A
third-party building or pest inspection melbourne is essential to make a reasoned decision about the property in question. Independence from either party (buyer or vendor) ensures that no bias will be present in the report for either party directly involved in the potential sale.
The inspection report should be clearly written, dated, and be a thorough analysis of the property in question.
How long does a building inspection take to complete?
On average, a
professional property inspection of a new or existing home takes two to three hours, with some time afterwards to be able to properly compile
the report.
The
inspectors usually need two to three working days notice before the inspection can be carried out. In the case that you live in an area where cool-down periods do apply, make sure that your timing of the inspection is within an acceptable time frame. If the time frame is untenable for an inspector to come in and get you an adequate report before the cool-down period has expired, release yourself from the contract.
Setting up the appointment for your building or timber pest inspection melbourne
Time is of the essence
Your inspector must be able to produce a report in time for you to make a measured and educated decision about buying the house.
Special Requirements
If, for instance, you want to be present
during the inspection, you should notify
the inspector so that they can coordinate schedules with you.
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