WARNING: Before you get your house inspected,
…here is some important information for you…
The government of New South Wales has introduced many new changes in the Home Building Act. Though many of the changes have already been written, many of the reforms have just now been implemented. These reforms aim at protecting the customers from any foul play. These reforms relate to a pre-purchase inspection, which gives an overall estimate of the property including whether there are any damages, cracks, or safety hazards.
A pre-purchase inspection report includes general information about the property. This report provides you enough information about the property to identify if there are some obvious problems. The inspection includes the interior, the exterior, the roof and the under roof space of the property. You can ask the inspector to inspect particular areas of the building as well, to ensure that all these areas are inspected to your satisfaction.
However, an inspection does not include every aspect of the property. It is only a general estimate of the property to see whether there are any serious defects in the property that may require expensive repairs after purchase. A pre-purchase inspection does not include a termite inspection. Although a pre-purchase inspection may cover obvious damage by termites, in order to see if there are any termite colonies, you need specific termite inspection.
Also, all property inspections must conform to the Australian Standard. The inspector must cover all the requirements of pre-purchase inspection stipulated in the Home Building Act. If your inspector is not aware of the new inspection criteria in the Act, his insurance may be compromised. Also, certain defects in your property may go unnoticed, leading to expensive repairs.
Before hiring the services of an inspector, make sure that your inspector knows about the pre-purchase inspection regulations, so that he is covered by his insurance policy.
Another reform offers a five-day cooling off period to provide an extra level of protection for the buyer. The buyer can cancel the contract with the contractor during this period; however, he would have to pay 25% of the purchasing price to the vendor. This cooling-off period can be shortened by having a certificate signed by the two parties. But be careful: the cooling-off period does not apply if the property is purchased at an auction. The buyer can also inspect the property during this period of five working days.
For more information or to arrange an inspection contact Pink Inspections on (02) 9529 2111 or contact us online.
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