Investing in real estate will always prove to be a serious financial burden, which is why obtaining a building inspection before signing the contract makes absolute sense for the common consumer. But, the question that arises – which would be a perfect time to do so? The answer depends on several factors and each factor will have its own consequences.
Therefore, in this comprehensive guide, we’ll be taking a look at some of the ideal moments during which opting for a building inspection will make the truest sense. So, without wasting any more precious seconds, let’s dive right in.
Ideal Moments To Opt For A Proper Building Inspection
When Buying At An Auction
It should be known that the winning bid at an auction will always be legally binding, which means that if your bid goes through, you cannot falter in the payment procedure. Therefore, if you’re indeed serious about purchasing a property at an auction, then you need to arrange a proper building inspection for the same as well.
According to professional services for building inspection in Rockingham, The inspection should be completed and you must have the inspection report before the auction begins. In that way, you’ll be able to learn about the real condition of the building (including any much-needed repairs), thereby allowing you to bid properly on the auction day.
If the inspection report comes good, then you’re well fine with your choice. Otherwise, you have to walk away from the investment knowing that it will not be worth your time & money.
When Buying Through Private Sale
When you’re planning to purchase a property via a private sale, offers are submitted after the scheduled inspection process. Therefore, you have to carry out your building inspection process before you proceed to sign your papers (or contract). In case you have to sign the papers before the building inspection process, then you put a clause in the contract that your final decision is subjected to a satisfactory building inspection process. Such a process should be carried out by obtaining a piece of proper legal advice.
Once you’ll have the building inspection report in your hands, you’ll have the negotiation power to alter the previous offer.
When Selling A Property
In the last two scenarios, we focused on the buyer’s side of things. But, if you’re a property seller, then it would be prudent to carry out a building inspection process before you go ahead with your property listing procedure.
The inspection report will help you detect any defects in your property structure and thereby pave the way for any repairs. As a result, you’ll be able to obtain a better price for your property from the buyer.
How Long Does A Building Inspection Usually Take?
This is definitely one of the most commonly asked questions when it comes to building inspections. Generally, building inspections take around 1.5-2 hours to be completed. However, the time can change depending upon the overall size & structure of the house, including the condition as well.
That’s why every building inspector carries out an accurate & thorough job, so that you can end up with a correct building inspection report.
What Are The Tasks That Are Involved In A Building Inspection?
The following set of tasks are involved in a usual building inspection process:
- Inspecting the foundation & structure
- Inspecting the plumbing
- Inspecting the heating & cooling of the building interiors
- Inspecting the walls & ceilings
- Inspecting the electrical system
- Inspecting the floors
- Inspecting the roof gutters
- Inspecting the drainage & ventilation system
- Inspecting any moisture issues and much more.
Therefore, the job of a building inspector is to ensure that a specific building is sound structurally.
