When a building inspector is hired for assessing the condition of a property prior to its purchase, there are always chances for the report to show at least one or more defects. If such a thing happens, the options available to you will rely on the kind of agreement you have made with the owner of the property. Let’s have a look at some of those options:
- If the defect is quite severe or serious in nature, you have the right to cancel the contract.
- In case the defect which has been revealed during the inspection is minimal, the owner can request for an opportunity to solve the issue for completion of the sale.
- Major defects can also be rectified by the owner, but only if he or she is willing to extend the contract period.
- You might be given the choice of re-negotiating the sale price for accommodating the defect as well as its subsequent impact.
When you are about to purchase a residential or commercial property in Sunshine Coast, you sign a contract with the vendor. This contract or agreement consists of terms that are agreed upon by you as well as the seller. Contracts for real estates are mostly conditional - there are certain conditions which must be met prior to finalisation of the deal. These conditions are generally associated with finance and prepurchase building and pest inspection in Sunshine Coast. In case the property fails a legal building inspection, you can annul the agreement without any penalty.
While entering upon a conditional agreement, make sure that you go through the terms and conditions meticulously. Contracts can vary and therefore, make sure what you are considering as an unsatisfactory inspection report has been stated in the agreement. If you feel like you might be able to withdraw yourself from a contract due to a failed building inspection or adverse report, seek out legal guidance as soon as possible.
At the time of making arrangements for an inspection, discuss your concerns clearly with the inspector and mention what you wish to be assessed. Once the assessment is complete, make sure that you read the report very carefully. Look for some specific defects, such as issues with foundation or drainage of the property. On the pest report, you must be on the lookout for problems involving termite and rat infestations.
