Purchasing a property isnt a small transaction, and you will want to make sure everything is in order before you purchase any property. Building and pest inspections are part of the process to make sure you are getting what you pay for, and there arent any hidden problems with the property. Today, we will go over when you will need a building and pest inspection and under what specific circumstances.
An Inspection for Homebuyers
If you are purchasing a brand new house, you can have high expectations that everything is new with little if any problems but if a house is old you will have to expect problems whether they are exposed or not.
The best time to get a building and pest inspection done is before entering into a contract. There are some instances where you cant get the inspection done. An example of this may be that the property is very popular and have several bids so you may have to move fast for the purchase. In this example, what you can do is make an inspection a condition of the contract that needs to be met. With this, you need to make sure the wording of the contract is in your favor. With this being the case, you would need to hire a solicitor or conveyor to check the wording on the clause that the building and pest inspection is thorough and satisfactory for the purchaser.
Inspection for Auction Property
As an investor buying a house at auction, this should be non-negotiable. You need to do the work and have a building and pest inspection prior to the bidding date of that property. If you are the successful buyer, its an unconditional sale and is final. If you find out, there is a problem after the purchase of the house, its too late.
Make sure when you get the building, and pest inspection done it is independent. In some cases, the property owner, real estate agent, or the bank has gotten a building, and pest inspection done, but you dont know how thorough the process is that theyve gotten done. Its best if you spend the money and get a professional building and pest inspection done so that you can have the peace of mind before purchasing the property. This way you have everything disclosed whether it be material or non-material. Its important to distinguish material and non-material as stated below.
Material: Examples of this would be termite infestation, ant problems, and bad ventilation conditions because of fungal decay, or the frame of the building is unstable. These types of problems would cause concern and have you changing your mind about the purchase.
Non-Material: These types of problems are usually minor and can be a crack in the tile in the kitchen, the tap is leaking in the bathroom or a leaky gutter. These types of problems are not deal breakers, but it might give you some leverage in your negotiations to purchase the property at better terms and prices.
With any purchase whether new or used, you should make it a habit to get a building and pest inspection done by an independent contractor. Paying close attention to the material and non-material reports will give you the upper hand in negotiations and knowing when to walk away from a property. Safeway Pest Control offers professional building and pest inspections for properties you need to be inspected to give you the peace of mind before your purchase.