A building inspection is the first step in the long process of selling a building in any city or province in Australia. The real estate world is complicated, which is why the governing bodies have placed some rules and regulations to make the process easier for both buyers and sellers. Building inspections help the buyer and the seller to get a detailed evaluation of the building before it is sold or an agreement is made.
In this article, we will talk about building inspection in-depth and help you understand what it entails, how long the process is, why it is important, and how you should navigate it.
What is a Building Inspection?
A building inspection is more commonly known as a pre-purchase property inspection, which includes a visual examination of the physical and structural systems of the building. During the inspection, a professional inspector from your hired company will come to check the water heater, heating system, basement, roof, air conditioning system, electrical, plumbing, and all other aspects of the building or the property at large.
The professional conducting the inspection is known as a building inspector. These individuals get vocational certification and training to perform these inspections on properties, buildings, and houses. At the end of the inspection, you will be given a report that will include all of the inspector’s findings, and that report will help you set the right price for your building.
Why is a Building Inspection Necessary?
A building inspection is essential for several reasons:
- Uncovers Hidden Issues: An inspection can reveal hidden problems in a property that aren’t immediately visible to the untrained eye. These could include structural issues, plumbing or electrical problems, or hidden mold or pest infestations.
- Provides Negotiating Power: If a building inspection reveals significant problems, it gives the potential buyer leverage to negotiate a lower price or request the seller to carry out necessary repairs before finalizing the purchase.
- Ensures Safety: A building inspection can uncover safety issues like radon, carbon monoxide, and mold, which all homes should be tested for. Identifying these issues early can protect you and your family from health hazards.
- Anticipates Future Costs: A building inspection can give you an idea of the life expectancy of certain systems within the property, helping you anticipate future expenses.
The Building Inspection Process
The building inspection process begins once you’ve selected a certified inspector. It’s essential to choose an inspector you feel comfortable with—one who has extensive experience and positive reviews.
During the inspection, the inspector will evaluate the property thoroughly, examining its overall condition and focusing on all the critical systems and structures. They usually start from the outside, assessing the building’s exterior, the roof, and the foundation before moving inside to look at the walls, floors, ceilings, doors, windows, HVAC systems, plumbing, and electrical systems.
While it’s not mandatory for you to be present during the inspection, it’s highly recommended. It provides you with a first-hand opportunity to understand the condition of the property and ask questions.
After the inspection, the inspector will compile a detailed report outlining their findings. This report will highlight any potential issues, often accompanied by photographs and recommendations for necessary repairs or maintenance.
Navigating a Building Inspection
To navigate through a building inspection, keep the following points in mind:
- Choose A Qualified and Experienced Inspector: Do your research and select an inspector with positive reviews and considerable experience.
- Be Present During the Inspection: This allows you to get a clear understanding of the property’s condition and ask any questions you might have.
- Review The Report Thoroughly: Make sure you understand everything in the report. If something isn’t clear, don’t hesitate to ask the inspector for clarification.
- Use The Report as A Negotiating Tool: If significant issues are unveiled during the inspection, use the report to negotiate repairs with the seller or a reduction in the purchase price.
- Plan For the Future: Use the information in the report to plan for any future repairs or maintenance.
To conclude, a building inspection is a critical step in the real estate process, providing valuable insights into a property’s condition. By understanding what a building inspection involves and how to navigate it, you can ensure that you’re making a sound investment.
