It is highly recommended that you engage a pest and building inspector to carry out a visual pest and building inspection on the property you wish to purchase either prior to the exchange of contracts or during the cooling off period.
It is important to remember that pest and building inspections are simply “visual” in nature. This means they do not highlight issues that may be physically hidden by objects such as furniture, in cupboards and under appliances (such as fridges).
Similarly, if the roof space is too small for the inspector to crawl into there may be hidden defects in the roof void that are not picked up (i.e. bent trusses, previous termite damage, damaged air conditioning ducts, poor insulation etc).
Whilst it is impossible to note every defect when purchasing an older house you need to be aware that there may be hidden costs associated with things you did not otherwise know about. One issue in particular which is quite common is Purchasers finding previous termite damage in the walls which is only found by the plaster being pulled down in the midst of a renovation. This is something that would not have been able to have been seen at the time of an inspection nor would it have been picked up in a thermal imaging inspection as the damage was “inactive”.
The bottom line is you need to satisfy yourself with the property you are purchasing and the risks associated with same. You also need to ensure you make all your enquiries either prior to exchange or during the cooling off period so that you have time to either negotiate a price reduction and/or repairs with the Vendor.
If you or someone you know are looking at purchasing a property contact our team at Meehans today on 02 4627 3333 and we will guide you through the process.
This article was published on 27/09/23 and the information is valid only to the date of publishing. This article should be considered merely general and non-specific on the subject matter and is not and should not be considered or relied on as legal, advice. Meehans Solicitors is not responsible in the event this information is relied upon by the reader in the absence of specific legal advice.