What you need to know about building inspections before purchasing
In these times of high property prices and the rush to sign contracts, an often-overlooked aspect of purchasing property is the buyer completing their due diligence.
During the purchasing process a reputable conveyancer will always recommend a building inspection be completed. More commonly known in the industry as a 'Pre-Purchase Building and Pest Report', they can be provided for both residential and commercial acquisitions.
Here are some frequently asked questions:
Do I need a building inspection?
The simple answer is yes. Purchasing a property for most is the biggest investment a person can make and a bad choice can follow you for years. Heeding expert advice at this crucial time is a must to make the best decisions.
What is a building inspection?
A building inspection that produces a ‘Pre-Purchase Building & Pest Report’ provides a professional visual report of the current condition of a property. It will provide the buyer with insight of it’s state in comparison to other properties of that age, and help the buyer calculate how much it will cost to repair or whether it’s worth buying in the first place.
When is the best time to get a building inspection?
Prior to bidding on a property as this will enable the buyer to assess potential costs to make it liveable and thus in doing so arm themselves with the ability to better negotiate with the vendor or pull out of the deal and saving themselves time.
What’s the benefit of a building inspection?
More often than not, a report will give the buyer a better position to negotiate a discount if future repairs can be identified.
It's not uncommon for a building report to save the buyer tens of thousands of dollars, and the ability to recoup the inspection cost nearly almost always.
What’s a Pest Inspection and do I need one?
A Pest Inspection Report is a separate report that provides a visual timber pest inspection for termites, Borers and Wood Decay Fungi.
Although not mandatory, it’s especially important if looking to purchase in suburban areas close to trees and in moist conditions. Most reputable Building Inspectors will incorporate both Building and Pest inspections into the same inspection, saving time and money from dealing with two professionals.
What are some common defects found when inspecting a property?
- Cracking to masonry and concrete: This can show up in areas such as the driveway, Subfloor and external walls.
- Sagging roof: Roof void can display deterioration of structural support beams.
- Deformed or sagging subfloor due to spalling concrete.
- Bowing masonry wall or retaining walls.
- Internal damage from moisture penetration from Roof or wall cavity.
- Non-operational components such as sliding doors, Windows and toilets not operating.