Inside, Outside, Land, & Above
To avoid problems and extra costs later on, you should know as much as you can about the condition of a property before you buy. Besides inspecting the property yourself, you can also arrange for property inspection reports, such as a building inspection report.
As a prospective buyer, when you ask for a contract of sale, the agent must inform you about previous property inspection reports that have been commissioned. You might be able to negotiate a cheaper price to repurchase a report.
A building inspection is just one check you can get done before buying a property. It is sometimes referred to as a ‘standard property report’.
The building inspection report is a written account of the property’s condition. It will include any significant building defects or problems such as rising damp, movement in the walls (cracking), safety hazards or a faulty roof. It is usually carried out before you exchange sale contracts so you can identify problems which, if left unchecked, could prove costly to repair.
Benefits of getting a building inspection report done before buying a property are:
The report’s format, detail and cost will depend on the type of property and the process used by the consultant or organisation to prepare it.
There is an Australian Standard that pre-purchase building inspection reports must comply with, but this does not include style or content.
The inspector should check all accessible parts of the property. These include:
You may also ask for a particular item or part of the property to be inspected, such as:
Take the risk out of your property investment
We do this in our home countries so we should do it here
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