When should you get a Building inspection done?
When building inspection – it depends upon the type of purchase.
Building Inspection should be carried out before entering into the contract or as soon as possible. As the finding of the report may lead you to withdraw the offer and this means that you should be well informed about your rights and options. So Building Inspection Council recommends you to a hire conveyancer as soon as possible.
Reports suggest that more than 1/3rd of the buildings have been found with major building defects and building defects are costly to repair. In only the last decade, property buyers have to fork out $10.5 billion dollars to repair the building defects. Home inspection protects you from such unexpected expensive repairs and helps you learn more about the property before signing above the dotted line.
The Timing of the home inspection depends upon the method of purchasing the property.
Auction is a one-way road and you cannot go back from it. If you are planning to buy a property at an auction, It is paramount to get a building inspection done even before turning up on the day. Cause if you are a successful bidder under the hammer, it is unconditional.
It is not possible that you find out building issues later on and want to negotiate again, by this time it too late. It is absolutely essential that you get the building inspection done prior to turning up for the auction.
Organize the home inspection as early as possible. Make sure to get the inspection report well before the auction date. This put you in a position to make an offer before the Auction. Many sellers accept the pe-auction offers due to the susceptibly on the auction.
Do not buy pre-inspected reports and hire an independent building inspector who will be happy to discuss the pro and cons of the property. There is always a risk in ordering a building inspection prior to the auction in case you are unsuccessful. Building Inspection Council can help you to negotiate discounts on subsequent inspections. However, it is always a bigger risk to win a property without a building inspection done.
Of the Market
Ideally, a home inspection should be done before entering into the contract with the vendor. But as we are aware that in many cases, it is not possible. For example, there are situations when the market is fast-moving or property is popular with buyers and the agent wants to move it quickly. In such circumstances, you are not in a position to get the building inspection done prior to entering the contract. In this case, make sure that subject to building inspection condition is included in the contract and be wary of the wording of the clause to be in your favor. This is where you want your conveyancer to help you with wording so that building inspection is done to the satisfaction of purchase. Avoid any minor or vague clause that gives very little room for the purchaser to pull out of the contract.
Building Inspection Council has observed that the earlier the inspection is carried out, the higher are the chances of getting a better deal.
Whether you a buying a home or any other property, whether you are buying to live or for the investment purpose, you should make an offer subject to home inspection conditions.
Often people trust the seller or agents on the face and later end up in court. A subject to building inspection clause protect you in case things turn different from the promises. As discussed earlier, the wording of the clause is important and must include “report to the satisfaction of buyer”. Any vague or broad clause may get you into hot water with the vendor. It is important to consult your conveyancer as early as possible to advise you on the contract conditions.
Building inspection also helps you to better negotiate the price with the seller that is why it is better to get the building inspection done as soon as possible.
Buying New House:
When building inspection – If you are buying a brand new house with everything shinning and spanking and you thinking there would be no defects in the house so why waste money on the building inspection. Then you could not be more wrong.
Of course, everything would be shiny and spanking, but there could be serious building defects under the brand new surface. Time after time stories are aired in Australia where new occupants have to vacate the properties cause of fatal risk
There are many dodgy builders who cut corners to make quick money. An expert building inspector is required to uncover such building defects which are deliberately covered by the builder. Besides, there are many other defects that may cost the property buyer dearly. Incomplete work, dysfunctional slopes, missing fitting, poor workmanship, deviation from the plan, and incompliance with building regulation are few to name. Home Inspection conducted in this case is called Handover Inspection.
Building New House
Building inspection conducted for new construction is called a new home inspection or new construction inspection. The new home inspection is constituted of 5 inspections which are carried out at the 5 different stages of the construction process as mentioned follow
Base Stage: This inspection is carried out before concrete is poured.
Frame Stage: This inspection is carried out after the framework is complete.
Lockup/Pre-Plaster Stage: This inspection is carried be the plastering of the ceiling and walls.
Fixing Stage: This inspection is carried after the fixings are completed in the house.
Final Inspection (PCI): This inspection is carried out before handing over the keys.
The purpose of the new home inspection is to ensure that the construction process is carried in accordance with the standards agreed in the contract before it is too late.
Building Inspection Council has observed that real estate agents or owners offer the building inspection report to buyers. In this case, you will get the report for free but there is no guarantee of being unbiased. We suggest you to invest some money and get an independent home inspection done. Obviously, we are biased but too many times, we have seen cases where people have come to us purchasing the property only to find out major issues. I believe the one takeaway here is that you should get an independent building inspection done as soon as possible.
When building inspection – and Building Inspection Council helps Australian property buyers with free quotes from local building inspectors. We are a not-for-profit Australian community service and the best thing about being a not-for-profit is that we do not have to compromise for profit. You get genuine and honest quotes. For 3 free quotes, click here.
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