A pest inspection means an independent expert will search for any possible infestations of pests, while a building inspection expert will search for any structural problems or other defects. Both should provide a full inspection report.
Buying a new property?
You could be fooled into thinking a new property doesn’t need a pest or building inspection. Don’t be. Termites have been located on properties only a few weeks old.
And even a new property can have structural defects you can’t see.
We recommend you have your legal representative arrange both a pest inspection and building inspection before the contract is exchanged.
Buying an older property?
Again, we recommend you have your legal representative arrange both a pest inspection and building inspection before the contract is exchanged. Keep in mind it is quite normal for an older property to have a few minor defects. Unless there is evidence of severe structural problems, these minor defects are usually nothing to worry about or can be fixed before the sale.
Understand the building inspection report
If you have concerns or don’t understand something on the inspection report, we advise you to contact your real estate agent or legal representative. Usually any problems can be fixed before settlement and any costs can be negotiated between the buyer and seller.
The 0.25% holding deposit
If, after paying your 0.25% deposit, either or both the inspection reports turn you off the property, you will forfeit the money if you decide not to go ahead with the purchase. So we recommend you first try and solve the problems.
Discuss the reports with your legal representative or real estate agent. They may not be as bad as you thought.
Or, get a professional to inspect and quote on fixing the problem. If the problem still can’t be resolved, think positive. You may have saved yourself a lot of money and heartache.