Add value to home buyers by understanding the building inspection process
It takes a lot of work to find the perfect buyer. From marketing campaigns to meeting in person, when you’re able to add extra value that your buyer isn’t expecting, you’ll trigger positive word of mouth and stay top of mind when they need your services or know someone who does. One way to shine for your buyer is by knowing your local service providers and the services they offer. You don’t need to be a guru and enter into an hour-long conversation with a buyer about the services provided by Ascert Building Inspections Newcastle for instance, but having a basic understanding of what they do and how and why they do it will keep you on the front foot.
So, here’s a rough rundown about building inspections: what they are, why your buyer should get one, who and what to look for, what’s involved and why they should hire someone who is thorough.
Why get a building inspection?
Building inspection reports are unbiased, independent documents that are comprehensively completed in accordance with Australian Standard 4349.1. They highlight significant defects in the building’s structure and any problems like wall movement/ cracking, rising damp, current and future safety hazards, or roofing faults. It’s one check that’s recommended buyers tick off when considering buying a property. Pre-purchase building inspections ensure any issues are brought to light straight away. The buyer can then use the information to negotiate a reasonable purchase price and make an informed decision as to how the issues may affect the property over time.
What should a building inspection include?
Suggest to buyers they should be looking for a building inspection that includes a pre-inspection consult, thermal imaging and moisture detection, a verbal explanation of the report, a comprehensive written report with photo evidence to comply with Australian Standards, and clear pricing. They could also ask if the provider offers a property maintenance guide, a checklist outlining ways to prevent any future issues, if there’s any ongoing support, and whether they have Professional Indemnity Insurance.
What to look for when hiring a building inspector?
A large proportion of Pre-purchase Property Reports result in disputes when client expectations are not met or reports are not descriptive enough for buyers to make educated pre-purchase decisions about their new home, investment, or commercial property. That’s why qualified trades such as licensed builders, surveyors or architects are best suited to inspect and report on a property. They’re trained to overlook any cosmetic improvements that may look awesome but may mask faults otherwise missed by the untrained eye. They should also be covered by Professional Indemnity Insurance and ensure the content and layout of the building report comply with the relevant Australian Standards.
Encourage buyers not to be tempted by cheaper prices as you get what you pay for. If a building inspection is completed in an hour, it’s likely only half the job has been completed. Did they crawl in the subfloor? Did they go into the roof space or just stand on the ladder? Did they inspect the outer surfaces and property surroundings? Did they use moisture and thermal imaging equipment? These are things your buyer should ask a building inspector about before hiring them.
Should a vendor obtain their own pre-sale building inspection?
The last thing you or the vendor needs is for a buyer to present you with a list of building defects identified by their own building inspector at the ninth hour. Prior to selling, you could recommend a vendor obtain their own building inspection report so they have an opportunity to rectify any issues within their budget or timeframe. This report can be a great sales tool but be cautious of providing a buyer with an outdated report that includes issues that have already been rectified. It’s not only confusing but can turn buyers away or encourage lower offers.
Want to know more? I found some great information on the Ascert Building Inspections website.
Do you have a rapport with your local services and tradespeople and understand the services they offer? Perhaps it’s time to check them out.