We know finding your dream house can be difficult and when you finally do, it’s natural to want to seal the deal as quickly as possible. However, you might want to take a step back and make sure that the house is free of structural damage or a pest infestation before signing a contract. While inspections of these kinds do cost you some money, it may just give you leverage to negotiate a better price and save significant maintenance costs in the future. After all, buying a property is a big financial commitment and you’ll want to make sure that you are getting your money’s worth. Here the inspections you need to carry out before buying a property.
Personal Inspection
A personal inspection will give you an initial impression of the property and the local area. Here, you can gauge whether it crosses off everything on your personal checklist. After having done that, go for a closer inspection and check for structural damages. This can be anything from mouldy, cracked walls to broken roof tiles and damp brick walls.
You will want to watch out for sagging roofs and crooked or sloping floors as these will need extensive replacements and will cost a fortune. It is best to make multiple visits to the property during different times of the day. This will give you a feel of how living in the area would be like and help you make an informed decision.
Pest Inspection
There are a few tell-tale signs that indicate pest infestation in the property. For example, blistered and bubbled paintwork is a sign of termite activity. However, you will still need to get a professional to carry out this inspection to examine past damages and anything that will raise issues in the future.
This inspection is much more thorough as the in-roofs and under-floor spaces are examined along with trees and backyard. Should you not be able to carry out a pest inspection before signing the contract, consider adding a clause in the contract that helps you pull out in case problems arise later. This will help you back out of a purchase if the property is exposed to pests.
Building Inspection
Getting a building inspection will provide you with a written report that lists damages in the property and the cost of repairing them. A professional practitioner will be able to assess the structural damages more closely than you have. This includes an examination of the electrical wiring, damaged gutters, garages, pipes etc.
A good inspector will also advise you of cosmetic improvements that the property needs. Furthermore, you can ask them to examine specific areas that have raised a concern for you. Before buying a property, ensure that you have a written report that helps you negotiate the price and conditions of the contract.
Pre-Settlement Inspection
This inspection would take place after the contract has been signed and before you move in. This is primarily carried out to make sure that the contract is not in breach and the property is the same condition as the day of sale.
A few things you will look for during this inspection are whether the former tenants have moved out, the plumbing and appliances like smoke detectors, air conditioners etc mentioned in the contract of sale are functional. A pre-settlement inspection is the last stage of buying a property, so you will want to make sure that any potential risks in the future have been minimised.
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