Building and pest inspections are an essential aspect of property transactions. These reports provide all the information you need on the condition of the property so you can determine if it is worth purchasing a new home and what kind of repairs you need to get done. However, the building and pest inspection industry is deeply tied to the real estate industry so many people wonder if the reports provide authentic information.
Inspections can be worth a tidy sum which is usually paid by the buyer. When you purchase a property, you enter into a big financial commitment so most buyers will want to spend their money after a lot of thought to ensure they don’t strain their finances. It’s not surprising that they wonder if the inspection reports are really worth the paper they’re written on. Both the industry experts and government agencies will tell you they are and here are some reasons why:
A poorly maintained home will require more repairs and investment so you can negotiate the value and bring the property’s price down considerably.
Reports will help you avoid bad deals and properties that are more trouble than they’re worth. If you don’t want to deal with frequent repairs and related problems, you can simply avoid purchasing that property based on your report.
Sellers can also benefit from reports because they’ll point out problems that need to be fixed before they can sell the property. If they do get the property repaired, they have better leveraging power and can increase the price to compensate for the expenses.
As you can see, pre-inspection reports are worth the money you spend on them and can help you save some in the long run. Buyers can also sell the report to the seller if they refuse to make the purchase and recover some of the money they spent on the report.
This is a common concern when it comes to inspection reports provided by the seller or vendor. Buyers often wonder if the seller can control the information on the report and exclude details. The simple answer to this question is no. Here’s what you need to know about vendor commissioned reports:
If you want to know more about our services here at Inspect It First, don’t hesitate to call us at 1300 557 047 or contact us through our contact form.
Thanks for reading,
Inspect It First Team
1300 557 047