• #291: The Truth About Building Inspections - What They Reveal, What They Don’t and How to Ask the Right Questions

  • Jan 6 2025
  • Durée: 47 min
  • Podcast

#291: The Truth About Building Inspections - What They Reveal, What They Don’t and How to Ask the Right Questions

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  • Résumé

  • Got a question for the trio? https://forms.zohopublic.com/propertyplanningaustralia/form/GotaquestionforthePropertyTrio/formperma/zYCQAxzE_24CVlDafP1ozyzwtmB-8m1iCNtCTgDvHXM

    This week, Dave hosts the show and the Trio chat all things Building Inspections. Cate starts out by clarifying the purpose of a building inspection. Contrary to popular opinion, building inspections aren't tickets to renegotiate a sale. Under certain circumstances, a renegotiation can occur, but the market conditions and competing buyer numbers will likely determine this.

    Building and pest inspections each require a distinct qualification, and Cate sheds light on the differences and methods of each, and the aspects of an inspector's findings that are conducive to pest infestation.

    Dave broaches the costs that can rack up when buyers are in the hunt for a property, particularly in the case of auction campaigns. The Trio chat about some of the ways that buyers can approach this issue. Cate also has some tips about 'on-sold' reports.

    Sometimes property negotiations can move very quickly, especially when an auction property receives a strong offer prior to auction day. Cate steps the listeners through the timeline that buyers need to be mindful of when arranging a building and pest inspection. Dave highlights the importance of managing a due diligence checklist.

    Should buyers get a building inspection before they negotiate a deal, or after? There are many different situations that buyers face, and sometimes it's not possible to avoid organising an inspection prior to securing a property. The Trio chat through some of the situations that buyers face, and how they need to navigate the building and pest inspection process.

    The Trio break down the building and pest inspection clause in the contract. From legal wording to the options that buyers have, this detail may be tiny, but it's very important.

    Cate shares some good questions for buyers to ask their building inspector when a fault or an issue is identified.
    • What is the severity?
    • What do I need to do to address the issues?
    • How quickly should I do so?
    • What is the risk if I don’t address immediately?
    Building and pest inspectors have their limitations and there are a number of things that the inspector won't check. Cate talks through some of these scenarios for our listeners and provides a real life example that she recently experienced.

    Lastly, the Trio chat about how buyers can source a great building inspector, and the secondary benefits of building inspections.

    ..... and our gold nuggets!

    Mike Mortlock’s gold nugget: Mike shares two gold nuggets.... the importance of impartiality when asking for a building inspector recommendation. Mike seconds Cate's firm recommendation to ensure that a discussion with the building inspector ensues. Relying on the report alone can lead to some panic for many, and obtaining clarity and context on the issues is valuable.

    Cate Bakos’s gold nugget: Some things can look worse than they are, and cracking isn't always a big deal. Other things that seem benign can be problematic. Building inspections are valuable.

    Show notes: https://www.propertytrio.com.au/2025/01/06/the-truth-about-building-inspections/
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