What Are Building and Pest Inspections:
Building and Pest Inspections are often a purchasers most valuable tool, in ensuring they have all the facts on a property they intend to purchase. After a thorough review of both the interior and exterior of the home, the inspector will submit a detailed report identifying major & minor leaks, waterproofing issues, repairs, and any past or present pest issues.
Who Are Building and Pest Inspections Conducted By:
The inspections can be carried out by the same or different people. A building inspection should be conducted by a licensed builder, surveyor or architect. When selecting a professional to carry out the inspections, it is important to ensure they hold the necessary qualifications and insurances (particularly professional indemnity). Also, to review what guarantees the company offers.
What It Shows:
This report will usually note both the areas of concern and provide recommended solutions for repair, or a specialist who can assist you further.
The report is usually broken down into:
* Material – Significant faults such as structural & electrical faults, termites, rising damp etc.
* Non-material – otherwise known as ‘easy fixes’ – leaking taps, loose doorknobs, broken tiles etc.
For buyers, the former does not usually result in a make or break action, but quite often is used as a bargaining chip, to negotiate a price deduction to accommodate for carrying out the repairs on the issue post settlement.
As a vendor, it is important to remember that if you look hard enough for faults with any property, you are going to find something, (even on a new property) so do not be alarmed if an inspection report reveals issues. Your best approach is to be on the front foot and advise your advocate/agent if there are any concerns before the campaign commences. With all the cards on the table, this will give buyers the confidence to put in a stronger offer, or bid more competitively come auction day.
