If you are considering purchasing a home or a commercial property, it is imperative to have a pre-purchase building and pest inspection. Usually this is requested right away following the decisions and before exchanging contracts. Home inspection must be done as soon as possible so you can decide if you would have to proceed with the purchase and to have enough information about the property.
Importance Of A Pre-Purchase Home Inspection
Let’s face it! Buying a house is one of the largest investments the majority of us will ever make in our lifetime. Because of this it is imperative that you know exactly what you’re getting.
A pre-purchase inspection is made to identify a house’s condition before you make a decision to buy the property. This allows you to determine if there are big problems that must be addressed.
Common home defects identified during an inspection include leaks, cracked walls, safety hazards, leaking roofs and draining problems. Any repair estimates can be obtained to make a purchase decision and negotiate on the price.
Reasons to Have a Pre-Purchase Pest Inspection
This inspectio differs from the standard termite inspection in the sense that it specifically includes timber pests like mould, wood decay fungi and borers. The cost to treat these pests, repair damage and remedy any prevailing conditions can be considered when negotiating on the property.
Are Both Inspections Needed
Home inspection is separate from pest inspection. While there is a little overlap in the content of both inspections, there are substantial differences. That is why it makes a lot of sense to have both inspections before purchasing a home.
While a building inspection must determine individual termite damage, it’s not specifically looking for active borers, wood decay and termites. Also the timber pest inspection covers all the same areas of the house as the house inspection and includes inspecting up to 30 meters from the main house for signs of termite activity which could potentially be a threat to the house.
Why you need Both Inspections
The two inspections are done pre-purchase. This means that they are done before you place an offer on a house or during the cut off period. With this as a potential buyer you will be able to renegotiate the price depending upon the inspections’ reports or pull out of the deal. In case you are bidding at an auction, a building inspection and pest inspection must be done before the auction. Remember that when the bid is accepted the deal is closed.
Usually, it is optional for buyers to do these inspections; however if you are purchasing a house for hundreds of thousands of dollars these inspections are quite essential. You would want to spend a couple of hundred dollars for separate pests and building inspections done by a Melbourne House Check – pre purchase inspector in order to avoid making an investment mistake which may cost to you a lot more.
In terms of negotiating on a property, knowledge is power. Getting quality pest and building inspections provide you that knowledge. Having enough information about a house can help you make a sound investment decision.
Matt Flood is a building inspection specialist. He has written articles about the good works done by a Melbourne House Check – pre purchase inspector previously.