Pre-Purchase building and Pre-Listing Inspections
As with any home you can buy, some properties are subject to structural damage and others are simply in better condition than others, whether the property is three years old or 30 years old.
A house will be one of the biggest financial purchases you’ll likely ever make, whether you intend for it to be the family home or an investment property that should last for generations to come. It is therefore important to ensure that the property is of the high quality it should be. This is where a pre-purchase inspection can be so important for the potential buyer, while for the seller of the property a pre-listing inspection can be of significant benefit. Casey Building Inspections is proud to offer both pre-listing and pre-purchase inspections in Melbourne to make the process easier for home buyers and sellers.
The Importance of the Pre-Purchase building Inspection
By insisting on an independent pre-purchase inspection with Casey Building Inspections prior to signing a contract with the vendor, you can gain a comprehensive, detailed insight into the quality of the property as a whole. We’ll assess the structural integrity of the building as well as evaluate the grounds on which the building is situated. These factors will all be compiled into a report that determines whether or not the property passes the pre-purchase inspection or fails to meet minimum standards.
What Does This Mean for the Potential Buyer?
For the potential buyer of the property, they have a number of possible courses of action they can take following the pre-purchase inspection.If the building passes inspection and everything else is to their liking, the potential buyer might sign on the dotted line of the sale contract and officially take the first steps toward making the property theirs.
Should the building fail to meet minimum standards, the potential buyer is within their rights to back out of the sale and look for another property. However, if the pre-purchase inspection only reveals a relatively small number of repairs or replacements that need to be made, they might choose to proceed with the sale – as long as the vendors drop the price so the new owners can pay for those repairs.
The Importance of the Pre-Listing Inspection
On the other side of the transaction is the vendor, or the seller of the property. Just as the potential buyer of the home might seek out an independent assessment of the property prior to committing to buying, the seller can request a pre-listing inspection prior to putting their house on the market.
The vendor can benefit in a multitude of ways by putting their property through a pre-listing inspection. Being transparent about the assessed condition of the property can remove much of the negotiating power that the potential buyer would have had if they discovered problems with their own investigation. An upfront approach keeps the power in the hands of the seller, and the risk of liability is therefore minimised significantly.
A pre-listing inspection will also help speed up the sales process. By conducting the assessment before the property goes on the market, you can address any problems that might be revealed early on, allowing the house to go on the market correctly valued and in its best possible condition.
Get in Touch with Casey Building Inspections Today
Whether you’re in the market to buy and want an independent pre-purchase inspection completed, or you’re selling up and want to organise a pre-listing inspection of your Melbourne property before you list it for sale, call the professionals atCasey Building Inspections for a complete and thorough assessment of the property both inside and out. Make the smart choice before you put yourself on the market – contact us on 0488 339 686.