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Nobody wants to think the worst, especially when you’ve found the right property for you. But sometimes a property may have faults that even the current owners are unaware of. While a lot of first home buyers may balk at additional costs, having an inspection can give you peace of mind for what will be one of the biggest purchases of your life.
What are property inspections?
Mostly, when referring to property, people will mention a building or pest inspection. These are inspections of the property carried out by a professional who will know what to look for. You can also make personal inspections to look for potential issues or faults yourself, but you must be confident in your own judgment of the property.
A building inspector will look over the building inside and out. They will look for structural and safety issues that are a problem now or could be down the road. They should investigate the roof and ceiling space, under the house if there is one and also the site to look at things, such as drainage, that could be an issue. If a house has been renovated, they can confirm that these have been carried out properly and safely.
Pest inspections look at the home to identify potential issues also, but specifically from insects. They will attempt to find wood-eating insects, such as termites, that may cause structural damage to your property, often even inspecting surrounding trees.
Once inspections are complete, you’ll receive a report with their findings and recommendations to inform your purchase decision. A professional inspector can often identify things that you can’t, so it can be a good idea to get one. An important thing to look out for when choosing a building or pest inspector is that they have professional indemnity insurance. This means that if they miss something you may be able to make a claim for financial loss.
Do I need a property inspection?
You might think you can find any fault, in some cases you can miss things that a professional will find. Inspections do come at an additional cost but can save you money long term. You need to weigh up the risk of not having one, considering things like the age of the property and any renovations. Even if the inspection yields no negative issues, you have more confidence in your purchase.
Do I need a solicitor’s involvement?
In most cases, if you are getting a building and pest inspection, this would be a condition that a solicitor would write into the contract. If the inspection does reveal issues but they are minor enough that you would still like to proceed with the purchase, your solicitor can negotiate that they are fixed as a condition of the sale.
While they do come at an additional cost, building and pest inspections can steer you away from a potentially disastrous purchase or assure you that your first home is safe and stable. If you need assistance with inspections as a condition of your contract, contact CM Lawyers property team.