Australia's Best Building Inspections
Now days, one of the biggest investments in our lifetime is buying a house, so it is important to get it right. All home buyers need to remain aware that the seller’s real estate agent works for the seller, so they are likely to put a positive a light on a property regardless of any faults.
Friends and family often offer advice, but spending money on professional advice before buying may save spending a lot more money in future defining problems which are not known about.
Knowing the right questions to ask and affiancing expert advice will help making a sound investment for the future – whether anybody is buying a home to live in with family or to rent to tenants.
Being thorough about checking out possible problems, it is possible to save a lot of hassle later on. So, it is to be necessarily ensured that the building report has properly gone through before it is bought.
What is a property inspection report?
It’s one of the different types of building inspection reports that you can get done. As the name says, this building inspection report is the one you get before you buy a property. Sometimes referred to as a ‘standard property report’, a pre–purchase property inspection report is a written account of the condition of a property. It will tell you about any significant building defects or problems such as rising damp, movement in the walls (cracking), safety hazards or a faulty roof to name a few. It is usually carried out before exchanging sale contracts so that any problem with the property can be keyed out which, if left unchecked, could prove costly to repair.
Note: A building inspection report is different to a ‘pest inspection report’. While a building inspection report should identify any visual damage that may have been caused by termites, it usually won't include the existence of termites or other timber destroying pests. It can be advisable to get a separate pest inspection report done before buying a property.
What is covered in a building report?There are a number of inspection options to check:
- The structure of the building, which includes the foundations, plumbing, wiring, dampness, cracks in the walls
- Whether there is any part of a building that beetles an adjoining property
- The condition of the fences; the gutters, eaves, roof, exposed pipes
- ◦Any cracking
- Whether there are any signs of rain damage or leaks?
- Any council notices about the possibility of local flooding?
- Does all the electrical switches work and the state of the wiring?
- Water pressure and plumbing?
- The drainage from the bath and other outlets?
- If there are any signs of rising damp?
- State of the roof, tiles, and guttering
(Tim Mansfield is a 30-year global veteran in the real estate industry and Founder and CEO of Sydney-based buyers’ agents Prime Property Buyer).
Whether anybody is buying or selling real estate the importance of property inspections is paramount in a smooth transaction.
A pre-purchase building inspection report (for a buyer) is used ensuring that the property is in good condition and does not have any major defects that may affect the property’s value or cost money to reclaim the future.
Providing a pre-sale building report (for a seller) is always a good idea. It certifies transparency and honesty on the seller’s behalf and means that potential buyers don’t have to order and pay for one separately, often at the last minute. Some buyers may still wish to request an independent report, but that is their decision.
There have been cases where the seller has provided the report in the contract of sale as an Annexure and included a condition that the cost of the report should be reimbursed by the purchaser. This seems a bit mingy. What the seller should do is concentrate on achieving a good sale price through a smooth exchange of contracts and write off the relatively low cost of a building report. The benefits of providing the report in advance far outweigh the outlay involved, so it should be included at no chargeCheck out our section on property inspections for more information.
It is critically important for buyers that, they should request an inspection report (if one is not already available) as soon as possible once they are interested in a particular property. The process can consume two to four days, during which a physical inspection or inspection of strata or company title records is finalised.