Buying a home isn’t a straightforward affair. You must be wary of the potential pitfalls of buying a property with hidden issues.
Purchasing a home is a huge investment. Before signing the sales contract, it’s imperative that you have a professional inspect the property for any signs of damage or pests. There have been many instances when a would-be buyer is swept off their feet by a home, only to discover when it’s too late that the property is infested with rodents or termites. This can result in costly repairs that could have been avoided with a simple inspection.
Separate professionals typically conduct pest and building inspections. The building inspector’s job is to check for structural damage, while the pest inspector will look for signs of infestation. These inspections are important for both new and old homes. Even if a home appears in good condition, there could be hidden damage that is not immediately apparent.
Some lenders require a building and pest inspection before they will approve financing for a home purchase. Even if it’s not required, it’s still a good idea to have one done. It’s worth the peace of mind to realize that the home you’re about to purchase is in good condition and free of pests.
According to Donovan Steinberg of Adelaide Pest and Building Inspections Pros, “If you’re buying a house, you ought to get a building and pest inspection done before exchange of contracts. It’s important to know what you’re getting yourself into so that you don’t end up with nasty surprises down the track.”
He added, “Many people think building and pest inspections are only for older homes, but this isn’t the case. Any home can have hidden damage, regardless of its age. It’s always better to be safe than sorry.”
The key to pest and building inspections is the report furnished by the qualified inspector. This document will detail any damage or pests found on the property. Don’t forget to review the report carefully and ask the inspector any questions that you may have.
It doesn’t necessarily entail that you should walk away from the deal if significant damage is found. Sometimes, the seller may be willing to make repairs before finalizing the sale. In other cases, you may be able to negotiate a lower purchase price.
The report is meant to obtain a lower price for those who intend to buy a property regardless of the inspection’s outcome. Furthermore, the same report serves as a valuable tool for the negotiation process. The buyer can use it to their advantage by requesting that the seller address any issues. The fee that a buyer will pay for the inspection is generally a small price to pay when compared to the potential savings.
Pest and building inspections are an indispensable part of the home-buying process. They help to ensure that you’re not buying a money pit and give you valuable information that can be used in the negotiation process. Whether you’re buying a new or old home, it’s always a good idea to have an inspection done before the exchange of contracts.