That One Error Your Can Avoid When Purchasing a Property

It can’t be helped that when you find a property you are interested in and one that seemingly meets your requirements for the perfect place, you get all too excited. And somehow, you have this fear that the chance of owning that property would suddenly slip away. So what many buyers would do is get in touch with the seller, take a little visit to the property without having a detailed inspection conducted and immediately settle the payment for their dream house. Done deal.

Unfortunately, for several property owners we’ve met at Twinspectors Building and Pest Inspections, such excitement lasts only until they realise that what they thought of as the perfect house is actually filled with hidden defects and damages. This is a common error that is faced by many property owners who had foregone the need of pre-purchase building inspections.

Although personal visits to the property allows you to see for yourself how the condition of the property is and whether it is fit for safe and comfortable occupancy, there are still risks that some damages are not readily seen. In fact, unless you are a trained professional in identifying the signs of defects in certain parts of the structure, it would be too difficult to confidently tell if problems exist.

Why It’s Better to Spend on Pre-purchase Inspections

A usual concern that comes up when we ask clients at Twinspectors Building and Pest Inspections why they didn’t consider a pre-purchase property inspection is that they would rather add that money for buying the property, instead of spending it on inspections. While this is a logical reason, in many instances, this has caused property owners to eventually spend more money than they would have if they had opted for the property to be inspected prior to the closing of the sale.

A pre-purchase inspection will allow prospective property owners to discover damages in the property and the degree of repair that may be required. In turn, this will help them get an estimate of the costs of these repairs if such remedial work will be undertaken.

Should I Not Buy the Property If It Has Defects?

The inspection conducted prior to the purchase will help you make an informed decision as to whether a property is worth buying or not. However, it does not mean that you should completely forget about the property if damages are found.

It is possible to use the findings of the pre-purchase inspection as a basis for price negotiations with the seller. You can also have an agreement with the seller on whose responsibility the repairs would be. And if you end up shouldering the repairs, you would know what to expect in terms of the amount of work to be done on the property.