Building and Pest Inspection Essentials
Building and pest inspections should be carried out on the property you’re looking to purchase prior to entering into a contract.
It is understandable that sometimes, especially in a hot market you don't have time to get a building and pest inspection before signing the contract, in that case sign the contract and then get the inspection done in your cooling off period. (in NSW you may lose 0.25% of the purchase price if you withdraw from the contract).
Also it is important to make sure that the wording in the contract is in your favour. Most people like to place the clause "building and pest inspection and report that is satisfactory to me.........." to continue with the sale. That means if it isn't satisfactory to you you have the right to pull out of the contract.
This is where you may want to hire a solicitor to help you make sure that the contract is worded in a way to allow you to withdraw from the sale if you are not happy with the building and pest inspection results, among many other things.
Before an Auction
If you are looking to buy at auction, it is non-negotiable if you win (meaning there is no cooling off period) so you need to get the building and pest inspection done prior to turning up on the day to bid because if you do end up winning the auction, there is no turning back, its yours.
It is absolutely crucial to get the property inspected before going into an auction for property that you’d like to buy.
Sometimes owners and real estate agents will provide you with what's called a vendor building and pest report. These are usually fine but my suggestion is to still get your own unbiased and independent inspection for your peace of mind.
Whoever does your inspection it is worth having a 20 minute chat with them after you have read the report to clarify anything you don't quite understand or want explained.
A quality property inspector will have no problem with this and possibly even suggest it first.
When Buying a Brand New House
If you are buying a brand new house, you should have higher expectations . Having said that, i find as many minor defects in new properties as i do in older ones. Just different types of defects.
Most the defects in new properties are caused by below standard trade work by relevant tradies and builders not keeping (or not caring) about the quality of their work.
This is much more prevalent in large multi unit developments.
Inner West Property Inspections specialises in Building and Pest Inspections in Sydney, get in touch today to see how we can help.