Why you should carry out a pre-auction inspection in Sydney
When buying a home privately, buyers can make an offer which is subject to a satisfactory inspection. This effectively writes a condition into the contract which gives the buyer a set timeframe to carry out an inspection and report back with any defects. Should any problems be found they can be used to re-negotiate the price or cancel the contract.
But if you're buying at auction, once a bid has been accepted by the auctioneer the buyer is committed to the sale regardless of what condition the property is found to be in. So while there is no legal obligation to carry out a building inspection before bidding on a property, it makes sense to commission one for any property you wish to bid on.
How much will a pre-auction inspection cost?
The cost of an inspection will vary depending on the size of the property and its location. Typically costs run from a few hundred dollars up to $1000 for a large home. However, this is a small price to pay when taking into account the cost of remediation work. If you were to buy a home which has significant structural problems it will cost many thousands of dollars for remediation.
What to look for in a building inspector?
Once you've made the smart choice and chosen to have a pre-auction building inspection carried out. The next step is choosing an inspector to complete the report for you. Unfortunately, this isn't as simple as it sounds. Building inspectors in Australia don't have to be licensed and no specific qualifications are required to operate as an inspector.
We, therefore, recommend that you choose a building inspector that carries out inspections under AS4349-1. This is the Australian Standards for Building Inspections which sets out a very comprehensive process for completing a comprehensive building inspection report you can rely on.
It is also a good idea to ensure your building inspector is covered by full professional indemnity insurance. This will protect you should the inspection report miss a defect which affects the value of the property.
At APBI we only employ professional building inspectors with many years of experience in the building trade. Unlike other providers, we also offer a fixed price for all our reports. So the price we quote is the price you'll pay. All inspection reports are also carried out per AS4349-1 and covered by our professional indemnity insurance.
To arrange a pre-auction inspection, give us a call on 1300 657 546 or complete our online booking form.