Try to arrange for property inspections before you start negotiations. This way, you’ll know exactly what condition the property is in. You will then be able to factor in any future costs when you make your offer. When getting an inspection, find out exactly what the report covers and what it doesn’t cover.
The main types of property inspections are:
- building inspections
- pest inspections
- swimming pool inspections.
If you can’t arrange inspections early, you can still have inspections done before settlement day. You will need to write terms into the contract to let you cancel the sale if the property gets poor inspection reports.
Building and pest inspections
You can get a combined building and pest inspection. Make sure the inspector holds a current licence from the Queensland Building and Construction Commission. They usually cost $400–$600 for a standard, 3-bedroom home.
Swimming pool inspections
If you have a swimming pool, you must arrange for a licensed inspector to check that it’s safe.
They will make sure that it:
- follows safety regulations, such as signs and fences
- meets construction standards.
They usually cost $170–$350. Inspectors must be licensed.
You should inspect the property 2–3 days before settlement. Make sure it’s still in the same condition as when you signed the contract. In particular, check anything you specifically included in your contract.
Ask your solicitor if all other conditions of the contract have been met before settlement day.