< Blog

Risks of Buying Without a Pre-Purchase Inspection in Sydney

Posted on 28 July 2014

Most people who are in the process of buying a home know that it’s essential to do all the necessary paperwork and ensure that their future investment is a sound one before they commit themselves. One step that should never be skimped on is the pre-purchase inspection. Sydney’s property market is competitive and getting the necessary reports can take a few days, but it’s better to wait and risk losing out to another buyer, than to get in quick and cross your fingers that there’s nothing wrong with the property.


If you are under pressure to exchange contracts it may be tempting to skip over getting the necessary inspections but it’s never a good idea to purchase a property without first being sure that it is in good condition. Although it may look fine, there may be a number of underlying issues which can lead to expensive repairs, and a lot of hassle and problems when you want to sell the property in the future.


What could go wrong if I don’t get a pre-purchase inspection?


Even if a property looks perfect on the outside, there can be hidden problems which you will only become aware of with a pre-purchase building inspection. A pre-purchase building inspector will look at the general condition of the property, and pick up on any issues that are of concern. These can include structural problems for example, or water damage from leaky pipes or flooding.


Structural problems can lead to safety issues, which can be especially worrying if you are buying a family home. You want to make sure that there are no faults with the building which have the potential to jeopardise the safety of you or your family. Structural faults or damage can also be costly to repair, and can in some cases mean having to undertake major renovation or rebuilding work to correct the problem.


All buildings are required by law to conform to the Building Codes and Standards of Australia. If you purchase a property that you later discover doesn’t conform, you will have to undertake the necessary repairs and construction to bring it up to standard, and this can be a very expensive exercise. Although a building inspector won’t be able to determine exactly what is or isn’t up to building code, they can identify anything that looks obviously wrong and highlight it for further investigation.


It’s also a wise idea to consider pests. A pest infestation like termites can consume your home from the inside out and repairs can be very expensive. If there is any question that a property you are looking at might have a pest problem, you may need to arrange a separate pest inspection to determine whether any pests are present and if so, how bad the problem is.


Even if problems are identified, it doesn’t always mean you will have to miss out on the property. Knowing what repairs will be necessary can help you negotiate a better price and budget for any work that will be needed after the sale is finalised.


How can I get a pre-purchase inspection in Sydney quickly?


If you are on a tight deadline and want a pre-purchase inspection as quickly as possible, it’s worth checking Compare Inspections.


We have a number of existing reports for properties in Sydney and other areas which have been made available by our users. Reports can be downloaded within minutes, meaning that you can have all the information you need instantly and get the edge over your competitors while protecting your future investment and your family’s safety.


Even if a current report doesn’t exist, at Compare Inspections it’s easy for you to find a provider and arrange a building inspection through our directory. You can even choose to re-sell your report and make some money back.

 

By Darel McBride

 

Follow Darel on:

Google+

Share this:

Articles

Child friendly places to visit in Ballarat

Moving to a new city like Ballarat can often be daunting, especially if you have small children t...

Read more
5 local attractions to visit when moving to Toowoomba

Moving to Toowoomba? This picturesque Queensland city in the Darling Downs region has many local ...

Read more
4 things to do when moving to Geelong

Geelong is the largest provincial city in Victoria and is located a short one hour drive south we...

Read more
Order online now or call 1300 724 465! Building, pest and strata inspection reports for properties in Sydney and Melbourne. Order newreports or buy existing reports!
P.O. Box: 678,
Jannali,
NSW - 2226
Australia.
Tel : 1300 724 465
Email : admin@compareinspections.com.au
Open: Mon - Fri 9am - 5pm EST