A building inspection examines the condition of a house on sale. It helps improve the buyer's confidence when purchasing a property. The excerpt below discusses how you can prepare and execute a building inspection.
Pre-purchase inspections are conducted once a buyer makes an offer and shows substantial interest in your property. More often than not, the buyer pays to have the house inspected. Below are a few tips to help both parties prepare for the house inspection:
- The seller should give the buyer adequate time to conduct the inspection.
- A qualified and licenced building inspector should conduct the inspection.
- The seller should declutter the house and ensure all amenities are functional before the inspection. For instance, the house should have a water and electricity connection.
- Sellers should not attempt to conceal house defects unprofessionally. It could cost more to conduct these repairs. Besides, they could lose the buyer's trust.
Sometimes, the seller could ask for a building inspection before listing the property on the market. It allows them to conduct renovations and price the property appropriately. Besides, it eases the property buying process since the buyer may opt to forego the inspection.
The buyer, seller or their representatives should be present during the inspection. The inspector will examine the following:
- The structural integrity of the house. For instance, does it have cracked pillars, a sinking foundation or damaged slabs?
- The condition of internal fixtures such as tiles, sinks, windows, doors and electrical fittings.
- The home's energy efficiency. For example, is the air conditioner functional? Does the house have adequate insulation? What is the orientation of the house?
- The possibility of land contamination.
- The condition of the landscape and the probability of drainage problems during heavy rains.
- Signs of land contamination and the susceptibility of the property to natural hazards such as floods.
What to Do after the Inspection
Most buyers will purchase the property if it is in good condition. The contract of sale compels the seller to conduct renovations or lower the buying price if the house has severe defects that the buyer did not identify during the home visit. As such, both parties may have to renegotiate the purchase price. If they cannot agree, the buyer has the right to terminate the contract and receive their deposit.
A building inspection helps buyers identify property defects. Preferably, ask your conveyancer or real estate agent to interpret the building inspection report.