Get yourself a conveyancer (you'll need one at settlement anyway) and seek their advice about the following issues before they arise:
Under standard contract conditions in SA, there is a two-day cooling-off period, so you will only have two clear business days (weekends excluded) to get your inspection report and consider its findings and do any renegotiation.
You can get extra time if you sign a contract subject to the building inspection. It's important that the wording of this condition is right for you, so get your conveyancer to check it before signing.
If your building inspection report reveals problems you weren't aware of when signing, you can use the report to negotiate for repairs or a price reduction...
"The inspection report revealed problems we weren't aware of when we made our offer. Now we have to reconsider our position."
If you did not sign subject to the building inspection, then any changes (addenda) to the contract will need to be agreed with the seller before cooling-off ends. Time is short, so co-ordinate with the agent and seek advice from your conveyancer.
Sometimes, a buyer likes to know as much as possible about the property before making an offer, so they will get the building and pest inspection done beforehand. However, if they are unsuccessful, then the cost of the inspection is incurred each time this is done. We have found that buyers who do this are usually unfamiliar with local contract law and in particular, the cooling-off period.
The building and pest inspection is great value for money - it reduces a lot of risk. It's an up-front cost to prepare yourself for auction. Organise your inspection early enough to consider what the report has said - you may want to get cost estimates for repairs. You could be the winning bidder or not - or it could be someone who never bothered with a building and pest inspection beforehand.
For buyers making an offer before auction, your building and pest inspection report can strengthen your negotiation. Our customers tell how their report helped them get the house for less than they expected to pay.
When we inspect for a seller, we play "devil's advocate", by providing a normal pre-purchase building and pest inspection report.
We aim to discover the defects that a purchaser's inspector will find. Acting on the report's recommendations can avoid the worst - losing the sale - and at least, prevent negotiations arising over defects that were either unknown to the owner or not believed significant.
Don't lose a buyer over some building defect you should have had fixed. We have seen that happen in dramatic fashion - just ask us.
Experienced, licensed, qualified
As an Architect, our inspector holds the highest professional building qualification. But he also spent many years on-the-tools actually making things, building and renovating. Professional Indemnity and public liability insured. Licensed builder from 1983 then registered Architect from 2002.
Send us the street address or web link to your building and we’ll look it up then call you back. Or phone now – DIRECT TO THE INSPECTOR