Matthew Forsyth in Warrnambool, Victoria | Estate agents

Matthew Forsyth

Locality: Warrnambool, Victoria

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21.01.2022 Why Get A Building Inspection? A building inspection provides a snapshot assessment of any safety hazards and major or minor defects that may exist in a property. Inspection reports serve a number of purposes and provide a range of benefits.... The primary reason to have an inspection is to ensure that the home you are buying or occupying is safe and doesnt pose a health risk to occupants. The major reasons to have a building inspection are outlined below: 1. Without expert knowledge of construction methods and materials, many defects are concealed and difficult to detect. 2. Most people wont get onto the roof, into the roof and under the floor of a home during their own inspections of a property which may mean potentially significant and costly defects would be missed. 3. Many individuals dont have the expertise or time to assess the potential cost and works implications of the defects that are easily identified or obvious 4. Interstate investors may buy property online and a building inspection allows them to get independent advice and information about a property rather than relying on the advice of agents who have a vested interest in the sale proceeding 5. You can rely on the findings of a building inspection as they are backed by Professional Indemnity insurance provisions, the advice of a mate or friend in the building trade doesnt have the same assurances 6. Prevent financial loss which may occur if you find major defects and safety hazards 7. Assist you to plan for repairs and renovation and their likely cost 8. Determine the rate of return on potential investments given the likely maintenance requirements 9. Aid in negotiations for the sale or purchase of a property 10. Document the condition of an adjoining property prior to major works which may create unintended damage Building inspections are particularly critical when considering that a home or building may have Asbestos or other potential contaminants present including mould or lead products which are known health hazards. When purchasing a building many people will plan to spend up to their maximum financial capacity to acquire the property. Without a building inspection these investors and home owners may then find themselves unable to meet the costs of repair works required to address defects. Having a building inspection completed before your buy makes total sense!

14.01.2022 What is a Building Inspection? A building inspection, also know as a property or house inspection is designed to give you independent and objective advice about the physical state of a building. This advice enables you to make an informed decision, usually about whether to purchase a property or not. Inspection reports are a snapshot in time. Therefore, you should always ensure you refer to a current inspection.... Building inspections are also carried out for the purpose of risk management, new construction management, dispute resolution, insurance claims, compliance with legislation and regulations and to inform renovation and extension decisions.

14.01.2022 Home Buyers At What Stage Should You Get a Building Inspection? The short answer is.. as early as possible in the home purchase process. The timing of a building inspection depends on your situation and mostly the method of sale. Its possible that adverse findings of a building inspection report could cause you to withdraw an offer, so you should always ensure that you are informed of your rights and options. ... Private Sales Its best to arrange a Building Inspection as early as possible when you have found a home youre seriously considering for purchase. The outcome of an inspection will obviously shape your decision making. If an inspection is not carried out prior to commitment to a purchase you should make any verbal or written offer subject to a satisfactory building inspection. Generally, any wording should indicate that you retain the right to withdraw from the sale without financial penalty should safety hazards or major defects be identified. Auctions Organising an inspection prior to the auction date allows you to be in a position to make a confident and informed offer prior to the auction itself. Many buyers will consider a bird in the hand to be worth two in the bush. You should also ask the agent if a building inspection has already been completed on the property. The general risk with ordering a building inspection prior to auction is that you may not be the successful bidder. However, the bigger risk is bidding at auction and winning a property which has not had a building inspection completed may mean your best laid renovation plans and savings go out the door. With up to 1 in 5 homes being subject to termite damage at some point in their life cycle and approximately 1/3 of all homes being sold with a major defect of some type it is not worth skipping the building inspections. We have seen too many examples where people have purchased a property and come to us after the auction when they discover that their budget for their new kitchen is now going to go on simply making the property water tight, addressing rising damp or dodgy repair jobs. Engage a conveyancer or settlement agent as early as possible. Again, the earlier you place an offer, conditional on your building inspection report, the earlier you can get certainty around a home purchase. Were happy to chat at any time and answer your questions about getting a home purchase building inspection.