Why Get a Building Inspection Report Before Buying?

When you buy a property, you want peace of mind in knowing that you are not going to be responsible for expensive repairs that you did not know about once ownership is transferred. There is nothing worse than signing off on the mounds of paperwork just to find out that the property is in poor condition. This is why all lenders require a building to pass a pre-purchase building inspection before you can close escrow and finalize everything. But if you are paying cash, should you forego the expense of the inspection? Absolutely not! Read on and find out why building inspection reports are important if you are financing or paying cash for the property.


Identify Problems with the Building So That You Can Decide If You Want to Proceed

Obviously, building inspectors uncover problems with buildings on a regular basis. When you hire an unbiased inspector that represents you and not the property owner, you have peace of mind in knowing that a professional certified inspector will be checking all areas of the building to find any defects that require repair. When you make an offer on a property, that offer is generally conditional based on the building inspection report.

If the report uncovers any serious defects, you can abandon the offer or send a counteroffer requesting that the owner makes repairs or gives you credits on the property purchase price. If the seller does not accept this counteroffer, you can decide whether or not the building is the right building for you. Knowing in advance what the problems are will help you budget for repairs and make an informed decision when you are buying.

Learn How the Defects with the Property Can Affect the Property Over Time

Many times, building owners choose not to repair defects because they will not cause major damage for years. The problem is, defects continue to get worse over time and can cause other major problems if they are not attended to. When you choose a reliable building inspector, the inspector can explain how the problem started and how the defect might cause problems in the future. The inspector is a specialist who can give you valuable advice. The advice can save you money and save you the hassle of making the wrong investment.

Make sure you take time to hire the right professional to inspect the building before buying. The inspection you report you receive should be detailed, formatted for easy reading, and complete. Find out if there are any hidden problems that you do not know about before it is too late. Schedule your building inspection, sit down and review the inspection report, and start pricing the cost of repairs to see if you are still getting a good deal.

This article was written by the team at BSP Consultants, providing commercial and residential building inspections in Perth, Western Australia.

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