Pre-purchase inspections - Pest, Building and Strata Reports
14 May 2011
Before you exchange on a property you need to decide whether you want to have any inspections done on the property.
The contract does not cover the quality of the buildings on the property, or any issues with the Owners Corporation, it only covers title matters.
The property you are buying is probably going to be one of the biggest investment you will ever make, so the costs of these reports are minimal compared to the purchase price of your property.
House
Where you are buying a house then you will want to know the building is structurally sound and that it is not infected by ants or any other pests. You should expect that a building that is not brand new will have some defects. You may be able to see defects of a minor cosmetic nature yourself however a qualified building inspector will advise on any structural issues that may not be obvious to the average person.
A pest inspector will report on any pests that may be present such as termites or white ants, or any pest activity or damage on the property such as wood rot, or damage to tree stumps.
For peace of mind, it is recommended that you obtain both a pest and building inspection.
Strata Scheme
Where you are buying a unit, townhouse, villa and sometimes a duplex, you are buying into a strata scheme.
You can choose to obtain a Pest and Building Inspection if you wish. Some people only do so if the strata inspection report makes reference to any defects or pests within your unit or the complex.
We recommend you obtain an inspection of the strata books and records of the Owners Corporation, which is called a Strata Inspection Report. You can inspect the strata records yourself or there are firms which specialise in these and are experts in their field. They will not inspect the building only the books and records of the Owners Corporation who usually appoint a strata manager so the inspections if therefore done at the office of the strata manager.
The inspection will include such things as: what the quarterly levies are, what the financial position of the scheme is, whether there are any arrears, whether there are any defect or maintenance issues, whether there are any issues with tenants or between lot owners, whether insurance has been paid, and when the last building valuation was done for insurance purposes.
Be aware that the report will only record those matters which have been reported to the Owners Corporation and not any matters that have not as yet been reported.
Get a recommendation from a friend or we can recommend Pest, Building and Strata Inspectors to you. You should also check that your inspector has Professional Indemnity Insurance so that if they miss something then you have a chance of being compensated for the error.
Disclaimer: The information in this article is correct as at 14May 2011. This information is not to be taken as legal advice and at all times we recommend you seek independent legal advice regarding your own individual circumstances from your legal representative.
Call us now for a FREE consultation 02 9984 8788.
Before you exchange on a property you need to decide whether you want to have any inspections done on the property.
The contract does not cover the quality of the buildings on the property, or any issues with the Owners Corporation, it only covers title matters.
The property you are buying is probably going to be one of the biggest investment you will ever make, so the costs of these reports are minimal compared to the purchase price of your property.
House
Where you are buying a house then you will want to know the building is structurally sound and that it is not infected by ants or any other pests. You should expect that a building that is not brand new will have some defects. You may be able to see defects of a minor cosmetic nature yourself however a qualified building inspector will advise on any structural issues that may not be obvious to the average person.
A pest inspector will report on any pests that may be present such as termites or white ants, or any pest activity or damage on the property such as wood rot, or damage to tree stumps.
For peace of mind, it is recommended that you obtain both a pest and building inspection.
Strata Scheme
Where you are buying a unit, townhouse, villa and sometimes a duplex, you are buying into a strata scheme.
You can choose to obtain a Pest and Building Inspection if you wish. Some people only do so if the strata inspection report makes reference to any defects or pests within your unit or the complex.
We recommend you obtain an inspection of the strata books and records of the Owners Corporation, which is called a Strata Inspection Report. You can inspect the strata records yourself or there are firms which specialise in these and are experts in their field. They will not inspect the building only the books and records of the Owners Corporation who usually appoint a strata manager so the inspections if therefore done at the office of the strata manager.
The inspection will include such things as: what the quarterly levies are, what the financial position of the scheme is, whether there are any arrears, whether there are any defect or maintenance issues, whether there are any issues with tenants or between lot owners, whether insurance has been paid, and when the last building valuation was done for insurance purposes.
Be aware that the report will only record those matters which have been reported to the Owners Corporation and not any matters that have not as yet been reported.
Get a recommendation from a friend or we can recommend Pest, Building and Strata Inspectors to you. You should also check that your inspector has Professional Indemnity Insurance so that if they miss something then you have a chance of being compensated for the error.
Disclaimer: The information in this article is correct as at 14May 2011. This information is not to be taken as legal advice and at all times we recommend you seek independent legal advice regarding your own individual circumstances from your legal representative.
Call us now for a FREE consultation 02 9984 8788.