This week, we’re focusing on property inspections and the importance of having an independent building and pest report. Whether you’re a seasoned investor or a first-time homebuyer, these tips will help you navigate the inspection process with confidence.
1. Expect Defects
No property is perfect, even brand new ones. If you’re purchasing a newly built property, it’s essential to anticipate minor defects. Similarly, existing properties will have their fair share of issues due to the aging process. This understanding will set realistic expectations and prevent surprises down the line. That’s why we always recommend the use of a specialist for property inspections.
2. Use a Professional
While you might have some knowledge of the building trade, it’s still crucial to engage the services of an independent building and pest specialist. Their expertise adds weight to any issues you might encounter with the property or its seller. Having a documented report from a professional provides a solid foundation for resolving any concerns that arise during the inspection.
3. Understand the Difference
The type of property—whether brand new or existing—determines the type of inspection report you need. For brand new properties, we recommend a two-stage independent report.
The first report, known as a handover inspection, is conducted when the house is about to be completed.
The building inspector identifies defects and shares the report with the builder for rectification. A second report ensures that all identified defects have been addressed by the builder before the handover.
For existing properties, a registered building inspector conducts a comprehensive report on the home’s condition, including photos and notes. Additionally, an independent pest report is crucial, especially in areas prone to termite infestations like Queensland.
4. Attend the Inspection
Whenever possible, make it a point to attend the property inspection yourself. Being present allows you to have direct communication with the inspector and discuss any major defects or concerns on the spot. This opportunity to clarify issues and gain insights can be invaluable.
If you cannot attend, consider asking someone you trust to be there on your behalf. This way, you can still have a conversation with the inspector and ensure you’re on the same page.
5. Address Major Defects
If any major defects are identified in an existing property, it’s advisable not to proceed with accepting the property unconditionally until you obtain professional quotes.
Structural issues, significant rot, or pest problems require further evaluation. By getting quotes, you’ll have a clear understanding of the costs involved, allowing you to renegotiate the contract if necessary.
It’s essential to be aware of these costs and make an informed decision on whether to proceed with the purchase.
Remember, just like any vehicle, properties will have their own set of issues. The key is to resolve them effectively and make informed decisions based on the inspection reports.
These reports provide you with a clear understanding of the property’s condition and help you plan accordingly.
We hope these tips have been helpful to you. If you have any questions or need further assistance, please don’t hesitate to reach out. You can book a time in my calendar by clicking here.
Geoff Tomkins
Buyers Advocate
PH: 0404 852 781
