Buying a home without getting a building and Pest inspection is like buying a car without test-driving it first. It is simply not a good idea. Doing so can leave you stuck with a property that is a constant money pit.
A building and pest inspection is a thorough, visual inspection of a property to assess its current condition. Primarily, it looks for major and minor building defects, safety hazards and any evidence of termites or termite damage. It is absolutely essential to anyone looking at buying a property and has three main benefits.
1. Make an informed decision
First and foremost, a building and pest inspection ensures that you’re making an informed decision about the property. The last thing you need or want is to move into the house only to find it full of defects or crawling with termites.
Unfortunately, this has happened on occasion when people have unwisely decided to buy property without a building and pest. In 2022, Louise brought a Brisbane house without getting the building and pest only to find the house was completely full of termites shortly after. She has since had to demolish the house.
Whilst the building and pest inspection may seem like an unnecessary expense when buying a house, it can literally save you thousands of dollars in repair work that may have otherwise gone unnoticed. That’s why it is so important to go into the purchase with your eyes wide open, fully aware of any issues with the property.
2. Gives peace of mind that you're getting accurate information about the property
It’s a little known fact but in Queensland, real estate agents are under no obligation to disclose information about the condition of the property to potential buyers. It sounds completely crazy but it is unfortunately true. In addition, even the most genuine vendors will do their best to present their homes in a positive light. At worst, some vendors may even go to great lengths to cover up significant defects in their homes.
By getting a building and pest inspection you’re ensuring that you are getting accurate information about the property that is independent from the selling agent and vendor. For this reason, it is very important to read through the building and Pest Report to make sure you fully understand exactly what you’re purchasing.
3. Increases your bargaining power during the negotiation process
Another major benefit to a building and pest is that it gives you more bargaining power during the negotiation process. Each building and pest report is completed under Australian Standards and is recognised by lawyers, surveyors and real estate agents.
This means that should you wish to exit the purchase contract based on the building and pest report you can do so. It also enables you to possibly negotiate a lower purchase or have the vendor complete repairs before settlement should major building defects be found.
Whatever you decide to do after receiving the building and pest report is your choice. It is up to you to decide whether you wish to proceed with the purchase, exit the contract or negotiate with the vendor.
Everyone’s circumstances are unique and what may suit one buyer may not suit another. The building and pest report is simply there to provide you with enough information to help you make an informed decision.
Have peace of mind with Local Inspections
At Local Inspections, our inspectors are highly trained and experienced with over 30+ years within the building industry. We guarantee a thorough inspection, fast turnaround times with reports and competitive prices.
We provide building and pest inspections in Hervey Bay, Bundaberg, Maryborough, Brisbane, Sunshine Coast and the Gold Coast. If you would like to know more or want to book, give us a call via the button below!
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