ARTICLE
6 October 2015

Building and pest inspection reports when buying a house

WT
Watkins Tapsell

Contributor

Watkins Tapsell is a client-focused law firm with over 50 years of experience. They provide comprehensive legal support to families, individuals, small businesses, and larger companies. With six Partners and a dedicated team, they prioritize exceeding client expectations by anticipating legal changes and adapting their services to meet evolving needs. Building long-term relationships is a core value for Watkins Tapsell.
it is surprising how many buyers do not order a building and pest inspection report merely to save a few hundred dollars.
Australia Real Estate and Construction

DO I NEED BUILDING AND PEST INSPECTION REPORTS?

It is a question we often hear from a home buyer.

Buying a house is likely to be one of the biggest investments you will make in life and it is surprising how many people contemplate not ordering a building and pest inspection report in order to save a few hundred dollars.

Although a seller is required by law to disclose in the Contract for Sale certain defects relating to the property, it is only as far as the seller is aware. It is often the latent defects that can go unnoticed by an untrained eye.

Building and Pest Inspection reports could reveal minor issues such as a leaking tap which can be easily rectified and at little expense or it could reveal a major defect such as structural damage or termite infestation which can cause a huge financial headache.

If the inspection report reveals significant issues with the property, as a purchaser you can:

  • Negotiate with the seller for a reduction in the selling price;
  • Request that the seller rectify the defects at their own expense and prior to completion; or
  • Accept the property "as is" and attend to the defects yourself once you become the owner.

Entering into a Contract with full disclosure and realistic expectations can significantly reduce the pressure of buying a home.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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