Why do we need to conduct a Building and Pest Inspection?
Buying property is one of the major decisions we can ever make in our lives. Even if the property looks like a steal and you are yet to make an offer for it, inspecting it is important.
We need to be absolutely careful and certain with our decision as it is a big financial undertaking.
When you decide to conduct an inspection, it gives you a detailed description of the home’s current state with regard to pests as well as its history. This includes those things we cannot see ourselves too.
The report covers from the most minor damages to major structural faults. These inspections are extremely helpful to investors and this helps them settle an agreement and negotiate prices.
Even the smallest of damage can alter the price of the property and can be used as a bargaining tool.
When is the best time do to conduct a building and pest inspection?
It is important to know that having the inspection done before the contract is signed is the best time possible. But there are instances when that might not be possible.
This usually happens when the property is on high demand or the agent is looking to quickly sell the property.
Timing is the one restriction that eats into the possibility of conducting an inspection. When this happens, ensure to add a “building and pest inspection” condition to the contract.
It is essential to protect yourself from making a bad decision. If there is an auction involved, ensure that the building has been inspected prior to the auction day. Auctions are non-negotiable and so make sure to read the report.
If you don’t inspect the property before the auction, it could be difficult to negotiate the price. The vendor has no duty to divulge any issues or faults that the property has. This means that you are accepting the unrevealed faults that the building has.
What faults should be prioritized?
An inspection will always provide the prospective buyer with every fault in the property, both big and small.
It is the buyer’s responsibility to determine the differences between the immediate fixings and those that are DIY projects.
These differences are known as material and non-material issues and are always listed in the inspection reports.
Material Issues
Material issues usually mean they are serious issues that need to be taken care of first. For example they can consist of termites or electrical faults, even leakages can be a huge problem. These are not deal breakers and can be fixed but they need to be prioritised.
Non-Material Issues
These issues are easily repaired and can be excellent DIY projects. These usually consist of damaged shingles, jolted windows, leaky taps, broken knobs and small cracks in the walls or floors, etc.
Using a Building and pest inspection report to negotiate the price
It is always better to know more about the property you are about to purchase. This can be an excellent source of leverage to negotiate the price presented to you.
A building and pest inspection report can act as the perfect bargaining tool to get you to the price you desire. Even if the report has the smallest imperfections you can still bargain the price instead of paying an indecent price.
There can be an excellent chance that the report will give you significant results that will make you happy.
In case there is any substantial damage, you have a significant amount of negotiable power. Although major defects can be a deal breaker, fixing these damages can give you the perfect buy.
Post purchase, you can renovate the house and plan and create a whole new home and so some of these defects can be the best thing that happened to you.
Criteria’s to selecting a building and pest inspector
Usually vendors provide buyers with reports done by building and pest inspectors they have done themselves.
This could help save some cash but they can be doctored with or not done thoroughly. And so it is important to hire a professional building and pest inspector that you trust, they can be impartial and can be completely unbiased on the reports.
It can be a little expensive but it gives you the peace of mind that can save you so much more money later on in the future.
It is always good to do a follow up with the inspector that did the inspection from the start and they can even talk you through the technical report.
About the Author:
Muzi Tsolakis heads Protech Pest Control, known to offer excellent services for pest control in Melbourne. If you’re dealing with a pest infestation in your home call them for a thorough inspection and pest control services that are sure to make your residence pest-free without compromising on your health.
