Sell with Confidence
Read More
News

Why Should I Bother With Building Inspections?

Building and pest inspections should be a well-known tool for anyone interested in property development.

But why? Why does everyone keep nagging you to get an inspection before you buy? Why does your real estate agent keep saying to consider getting a professional to look over your property before you sell it? What is so important about this particular step in the process?

KNOWING THE PROPERTY FAULTS

Did you know that Archicentre estimates that 80 per cent of property transactions take place without a building inspection taking place? That is an enormous potential number of buyers quite happily shifting a lot of capital into something that could end up being a lemon.

As a buyer, it is important to ensure that you always get the property checked over by a professional before deciding to buy. Certain property problems will be obvious, such as rising damp or scratched paint, but more sinister problems can lurk in places that you might not expect. Some of the most expensive problems to erase are in the plumbing ($10,000 to $15,000), wiring ($5,000 to $10,000) and stumping ($6,000 to $10,000).

However, just because you may have found issues with a house for sale doesn’t mean you should just pass on it. Your Building Inspection describes how knowing about these issues can allow you to negotiate a lower price with the seller; asking for the potential cost of repairs to be deducted from the asking price is quite reasonable.

NOT JUST FOR THE BUYING PROCESS

Sellers or landlords should also be considering building inspections for their properties. It’s all about knowing where you can improve the property, or where you can expect problems to appear in the future.

The ability to hold up a building report and say “here are the known issues, here’s how we are fixing them” will go a long way to build trust with your buyers and tenants, and people may be more willing to make a purchase or sign a lease if everything is transparent.

For more property tips and tricks, speak to your local real estate agent today.

Up to Date

Latest News

  • Young gun agent takes on the Gavel

    Auctions have always been the lifeblood of Australasia’s largest real estate group, and it was with this in mind that encouraged Sunshine Coast agent Sarah-Louise Anderson to become one of the region’s first female auctioneers. “Becoming an auctioneer for the Ray White Group has been a goal in the back … Read more

    Read Full Post

  • Teamwork makes the dream work at Ray White Maroochydore

    When it comes to case studies in real estate, often the sale price is the hero of the story. In this case however, it’s the team behind the $1.3million sale who are the true heroes. When the owners of 16 Chardonnay Court in Buderim were looking to sell their beloved … Read more

    Read Full Post