Do I Really Need a Pest and Building Report When Buying a Property?
Equilaw • February 21, 2020
Do I really need a Pest and Building Report when buying a property?
While there may be no law requiring a Pest and Building Report to be carried out on a property you are purchasing, there are several very good reasons why you should engage a professional to inspect the property prior to entering into a Contract for Sale:
- You will know in advance if there are any defects inside or outside property;
- You will know if there is or ever has been any termite damage to the property;
- If there are any problems at the property, a report can assist in negotiating a lower purchase price (if you have to pay to repair some of the issues identified); and
- You will have expert advice about any major problems the property may have and how these problems might affect the property over time.
The Pest and Building Report will include any significant defects or problems and will also highlight minor defects such as cracking, weathering and general deterioration.
If issues arise with the property following settlement and you have chosen not to get a Pest and Building Report, will have no recourse or claim against the vendor. Equilaw Solicitors can assist you in arranging a detailed Pest and Building Report for your next property purchase with a trusted inspector.
Property settlements can be convoluted as there are contingent to various factors.
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