Pre-exchange reports:- Before you purchase a property it is important to arrange inspections on the property. The Contract for Sale of Land does not cover the quality of the buildings on the property; it is “Buyer Beware”. After exchange of Contracts there is no recourse if the buildings are defective in some way. Depending on the type of property you are purchasing we recommend the following reports:
Building Report: If you are purchasing a dwelling then it is important to know that the building is structurally sound. You should expect that any building that is not brand new will have some minor defects. A building report will show these matters and most importantly advise on any structural problems that may not be obvious to the untrained eye.
Pest Report: A pest report will report on any structural pests that may be present or advice on any pest activity affecting the property, past or present. The report is for the activity of structural pests, it will not normally advice on the presence of cockroaches, mice etc.
Strata Report: If you are purchasing a unit, townhouse or villa then you will most likely be purchasing into a Strata Scheme. In this case it is important to obtain a Strata Report which will inspect the books and records of the Owners Corporation. The report will advise on such things as: the insurance policies in place, the quarterly levies, the financial position of the scheme, if there are any ongoing maintenance problems, if there are any special levies struck for the costs of works to be done, if there are any issues between other owners.
Septic Tank Inspection: If the property is not connected to town sewer then it will most likely be on a septic system. Once the property has settled the new owner must apply to Council for approval to use the septic system. It is important to be sure that the septic system is in working order and up to Council’s standards. An inspection of the septic system is usually carried out by a Council officer or a plumber experienced in this area. A report will then be provided to you detailing the condition of the disposal system and any defective areas. Any defects found after exchange of Contracts do not have to be rectified by the vendor and can provide quite costly.