Buying a house or unit is a big decision and a big investment and it is very important to ensure that you know exactly what you are buying.
Building Inspection vs Pest Inspection
A building inspection will allow you to make an informed decision based about the stability of the dwelling. It will also show any defects that you may not have seen upon your initial inspection. A pest inspection will identify if the dwelling has been affected or is still affected by termites.
Before you sign the Contract
Make sure that the contract is conditional upon you receiving a satisfactory building and pest inspection by a certain date. You must ensure this date gives you enough time to organise the inspections to be carried out, review the reports and make a decision.
What if there are problems?
If you are unhappy with the report, you may terminate the contract. To do this you must give the seller notice prior to 5:00pm on the due date. You must act reasonably when you consider the report. You must provide a copy of the report to the seller if requested.
If there are a few minor issues listed in the report and you do not wish to terminate, you may be able to negotiate with the seller to come to a compromise in regards to the issues that you both agree upon. We recommend you get legal advice before starting any negotiations. Keep in mind that you must give notice to the seller by the due date advising if you are satisfied with the report or not.
A building and pest inspection report will not provide you with details regarding:
Council approvals on any works carried out on the property (i.e. new balcony); or
The boundaries of the property and whether they are correct. If you do have concerns over the boundaries of the property and possible encroachments, please seek advice from a surveyor prior to entering a contract to purchase.
Once the proper checks have been conducted, you can feel confident with your buying decision and enjoy your new home.