When should I conduct a pre-purchase building and pest inspection in?
In Victoria, it is common practice to conduct a pre-purchase building and pest inspection before finalising the purchase of a property. It is typically done during the due diligence period before the sale is finalised.
This period is typically negotiated between the buyer and seller and is typically around 14 days, but it can vary. It is important to schedule the inspection as soon as possible to ensure that there is enough time to address any issues that are found before the sale is final.
What is a pre-purchase building and pest inspection?
A pre-purchase building and pest inspection is a professional examination of a property that is conducted before the purchase of the property. The inspection typically includes a visual examination of the property’s structure, including the foundation, walls, roof, and other major components of the building. The inspector also checks for evidence of pests, such as termites, and any damage they may have caused.
The inspection report provides the buyer with important information about the condition of the property, including any issues that may need to be addressed before the purchase is finalised. The inspection is typically conducted by a qualified building inspector and a pest inspector who will provide a detailed report of the findings.
Notify your conveyancer in Melbourne of the outcome of your building and pest inspection so that they can proceed to settlement.
Who conducts a pre-purchase building and pest inspection?
A pre-purchase building and pest inspection is typically conducted by two separate professionals: a building inspector and a pest inspector.
A building inspector is typically a licensed professional who has the skills and qualifications to evaluate the condition of the property’s structure, systems, and components. They will typically have knowledge of building codes, construction techniques and materials, and common building defects. They will conduct a visual examination of the property, taking note of any issues or potential problems such as cracks, leaks, and other signs of wear and tear.
A pest inspector is a licensed professional who has the knowledge and equipment to identify and evaluate the presence of pests in a property such as termites, wood borers, and other common pests. They will check for evidence of pests and any damage they may have caused, and provide recommendations for treatment and control.
Both of them will provide detailed inspection reports with their findings, recommendations and a summary of the condition of the property.
How much does it cost to arrange a pre-purchase building and pest inspection?
The cost of a pre-purchase building and pest inspection can vary depending on the size and location of the property, as well as the specific services included in the inspection. However, on average in Victoria, Australia, it can cost between $450 to $800 for a standard building and pest inspection.
It is important to note that the cost of the inspection is typically borne by the buyer, and is usually considered a cost of purchasing the property. Some real estate agents may offer to include the inspection in the sale price, but this is not always the case.
It is also important to keep in mind that while the cost of the inspection may seem high, it is a small investment compared to the potential cost of repairing major problems that may be discovered after the purchase. It is always recommended to get at least two quotes from different professional inspection companies before choosing one.
Pro-forma special condition relating to a pre-purchase building and pest inspection?
Here is an example of a pro-forma special condition that could be used in relation to a pre-purchase building and pest inspection:
“The Purchaser shall, at their own cost, arrange for a building and pest inspection of the Property to be conducted by a licensed and insured building inspector and a licensed and insured pest inspector. The inspection shall be carried out within [insert number of days] days of the signing of this Contract. The inspection report shall be provided to the Purchaser within [insert number of days] days of the inspection. The Purchaser shall have the right to terminate this Contract within [insert number of days] days of receipt of the inspection report if the Purchaser is not satisfied with the condition of the Property as disclosed in the inspection report.”
It is important to note that this is just an example, and the specific terms and conditions of the inspection should be agreed upon by the buyer and seller before the sale is finalised. Also, the time frames, inspection company, and termination rights can be negotiated and included in the special condition.
What is the difference between a major and minor building defect?
A major building defect is a defect in the building that affects its structural integrity, safety or health, weather tightness, energy efficiency or that would be costly to repair or correct. Major defects can include problems with the foundation, structural supports, roofing, and walls, and typically requires immediate attention and repairs.
A minor building defect, on the other hand, is a defect that does not pose an immediate safety or health risk, does not affect the structural integrity of the building, or is not costly to repair. Minor defects can include cosmetic issues, such as peeling paint or a small leak, or small repairs, such as replacing a damaged tile or fixing a faulty switch. These defects do not pose a significant risk to the building’s structural integrity, safety or health and can be repaired over time.
It is important to note that the definition of “major” and “minor” defects may vary depending on the jurisdiction and the building codes that apply to the property. A professional building inspector should be able to provide a clear and accurate assessment of the defects found during the inspection, and whether they are considered major or minor.