Reasons Why a Pre-Purchase Builder's Report is Good for a Property Buyer

23 October 2017
 Categories: , Blog


Buying a house can be a bit of a tedious process if you consider all the paperwork required to complete the entire process. Part of the process involves inspection of the house before purchase. While some people consider property inspection as a waste of time and resources, a pre-purchase building inspection is valuable. Notably, you can use the report to your advantage. This article highlights ways in which building inspections services could be of great help to you.

Independent Assessment -- When looking for a building inspector, it is best to consider independent service providers because they will work alone and provide a report that is based on their objective assessment. It is important to realise that some real estate agents will recommend building inspectors that they have worked with before. If a property sales agent suggests such an offer for you, kindly turn it down and look for a building inspector that has no ties with the agent. Since a builder's inspection report is not meant to sell you the house, it is not supposed to gloss over any issues. Most importantly, an independent assessment of the building should raise any problems associated with the structure and which might not be visible to the untrained eye.

Budget -- There is no denying that a building with notable structural damages will fetch a discounted price; you might even be tempted to pay off the cuff. However, since you are not an expert in building inspection, you might fail to discern hidden issues with the building, which could cost you a lot more in repairs than previously anticipated. If you have a pre-purchased builder's inspection, it can help you to prepare a repairs budget accurately and quickly. If the report indicates massive structural damage, then you have time to pull out of the deal or conduct a cost-benefit analysis of the housing project.

Negotiating Tool -- As mentioned earlier, a building that needs a lot of repair work will most likely sell at a lower price. However, you can negotiate the cost of a house even more by using the findings in a pre-purchase inspection report. If a sales agent refuses to adjust prices downwards, then you can have them do the repairs and pay the market price. Either way, the document will still act as a negotiating tool on your behalf. Further, you can keep the report and produce it as evidence of repair work when selling the house.