Whether it’s for business use or a new home, buying a property is probably the largest investment that any individual or group of individuals will ever make.
Mistakes made during the purchasing process will be almost instantly regretted if things are left unknown – and once that sale goes through, rectifying any issues with the property can prove time-consuming and inevitably expensive.
The time to make sure that the property investment is everything that the seller has made it out to be is to sign the final documentation and hand over the cheque.
This is why it is imperative, in fact, crucial that the buyer insists on a pre-sale building and pest inspection.
However, although the rule of ‘let the buyer beware’ is always applicable, the property, the seller (or vendor as the case may be) should also carefully consider the value of a pre-sale building and pest inspection by a qualified service provider.
In many instances, the seller will be relying on the proceeds of the sale to provide funding for another investment – often another property. Should problems be brought to the seller’s attention by the buyer as a result of them conducting a pre-sale inspection, a delay in finalizing the sale is almost certain to occur. In fact, many buyers will view with suspicion a seller who has not acted with due diligence before attempting to close the sale. This suspicion can very well cause the buyer to back away from the deal entirely.
Having a pre-sale building inspection (and combining that with a pest inspection) is good for both parties. The seller can move forward using the inspection results as a tool to indicate to the buyer that they operate according to a strict set of moral rules and have the utmost confidence that the property they have placed on the market represents an excellent long-term investment.