I just made a offer on a property which has been accepted.
I now need to do a building / pest inspection, however the agent has informed me that the owners had a independant building / pest inspection done 4-5 weeks ago which he is sending to me.
Should I accept this building / pest inspection
instead on doing my owm. If the inspection is really an independant report by a qualified person there should not be any problems accepting what the report has to say about the property, should there?
I need opinion of what you would do?Chances are that it will be OK however,
If you need to take any legal action for a faulty report then you cannot because it was not done for you in the first place.
You should also be aware that the report may not be unbiased if not sourced by yourself.
Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
uncivilised :o)
Some might think a BPI is like a pink slip for a car and should come with every house that is for sale- and paid for by the vendor.
I guess you could check out how many BPInspectors there are in the town/city you are buying in. If there’s only one, he or she will probably give you similar results to the first inspection report!
Of course, since the BPI was done, the vendors could have played “punch the wall” games, and so it may not be current
People on here might advise you to get another report done. I tend to think you can check it out for yourself, and see what you think. I don;t know if the vendors would be in some conspiracy with a dodgy pest inspecor- it seems unlikely- perhaps the vendors just wanted to provide the buyer with a pink slip as a sign of good faith.
Dunno
kay henry
kay henry
I think the reason the owners did a building / pest inspection is they want a quick settlement. The owners wanted a two week settlement, which for me was not possible .They have already agreed to fix a couple of things from the report.
I am going to read the report, and make contact with who ever did the report to ensure they are qualified, then I will make a decision on whether do request a building / pest inspection myself.Two week settlement is a pretty big ask on any lender. Just keep that in mind mate.
Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
IMHO – what’s a couple of extra hundred bucks and a day for the inspection in the scheme of things? For such a large investment I’d suggest it’s worth the peace of mind to get another opinion that you know is not biased. Although probably unlikely, what if there IS a problem and they’ve tried to cover it up???
Anastasia
simon
2 week settlement, impossible thats what I told the real estate agent.
matt
Hi Matt,
I reckon you’re right. It sounds to me that the vendor is doing all they can to make it easier for a prospective buyer to settle quickly. They may have most probably exchanged on another property, so have to push this one through. It would not be in their interest to provide a “vendor friendly” property inspection, as for all they would know you might be a builder yourself.
Bear in mind though, both a prop report and pest inspection are only valid at the point that they are conducted. Next doors rats might return tomorrow and a storm might hit next week!
This gives me an idea. As you will get a copy of both reports, for the sake of a few hundred bucks, why not get another inspection done anyway? It’s also cheap insurance and a negotiation tool. It will be highly unlikely that both reports will be identical. So, use the contradictions to your advantage on the purchase price.
Next bit is, you can’t settle in 2 weeks. Yet they have accepted your offer. Put the pressure on, then ease off with a part solution. From your words “wanted a 2 week settlement”, find out the real motivation they have. Is it really urgent for them or not? As their reports were done 4-5 weeks ago, they may simply be getting tired of inspections over 2 months. Depending on your state laws, why not offer to rent it from them between exchange and settlement, to extend your own settlement date? Whether you move in or put someone in there to cover your costs, their own public liability should cover any “visitors”. If you move in, you get a good look at the place in the mean time. Once you have exchanged (depending where you live), you have exchanged, full stop, yet conditional to any clauses such as inspections that you include in the contract.
Just thoughts mate, I’m sure others here may have simpler solutions.
Kind regards, Phil
Phil
They have already purchased another property , so they need to settle as quickly as possible. When I put a offer to them they accepted based on a 2 week settlement, which was not possible for me. They have now agreed to extend settlement to 23/12/2003, which I fairly confident will be possible as long as nothing goes wrong.
Your idea about renting sounds good, however not possible as I live in NSW and the property is in QLD.
This is my first property purchase , so everything is new to me and I can certaintly tell you I am bloody nervous.matt
Matt,
Two weeks isn’t impossible but it does limit your choices an awful lot [
]Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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