Why You Need A Pre-Auction Building and Pest Inspection
Make an informed decision
A pre-auction building and pest inspection enables you to make an informed decision about whether to proceed with a bid at auction or not.
It provides you with peace of mind knowing that the property is fit for purpose and that you’re not getting more than you bargained for with nasty hidden surprises down the track.
A pre-auction building and pest inspection gives you confidence to bid
Buying a house at auction is very different from buying a home through sale of treaty or tender. With sale of treaty or tender, potential buyers can make offers subject to certain conditions (such as finance or building and pest) and have the opportunity to negotiate on details of the sale. This means items can be added or removed from the contract of sale as required prior to signing.
Selling a house through auction speeds up the entire sale process. As the winner of the bid signs a contract of sale on the spot – with no cooling off period. This makes the sale move quickly as there is very limited (if any) opportunity to negotiate on details of the sale prior to signing the contract.
Additionally, any bid made on auction day is considered legal and binding. If a bid is accepted, the bidder must go through with the purchase. This means that unless a bidder stipulates that their bid/offer is subject to certain conditions (such as finance approval or building and pest inspection), it is considered an unconditional bid. An unconditional bid means an unconditional contract of sale. No backing out if you can’t get finance or later find out there are issues with the building.
That’s why it’s so important to make sure you “dot your I’s and cross your t’s” before you bid. A pre-auction building and pest inspection will enable you to make an informed decision by being fully aware of the property's condition - before making a bid.
The seller already has a building and pest inspection report that I can refer to. Can I rely on that?
It is always best to get your own building and pest inspection for two reasons:
1. Legal Recourse
A building and pest inspection report is a legal document. As such, the owner of the report is the one whose name is on it. This means that should a buyer later find defects within a property (that should have reasonably been seen by the inspector) they can pursue legal recourse. However, this option becomes non-existent for buyers who have chosen to use/rely on someone else’s report or have put in a bid/offer that is not subject to building and pest.
2. Unbiased Inspection
The scary thing is that Queensland real estate agents are under no legal obligation to disclose information regarding the condition of the property to potential buyers. As such, getting a building and pest inspection gives you peace of mind that the findings in the report are impartial to any party involved in the sale. You don’t want to be that person on the news who failed to get a building and pest inspection only to move in and find the home is riddled with termites, like this unfortunate Brisbane homeowner.
The benefits of a pre-auction building and pest inspection
A pre-auction building and pest inspection will allow you to make an informed decision about the property prior to bidding. The benefits of a pre-auction building and pest inspection far outweigh the cost as it:
- Identifies major and minor defects
- Identifies any evidence of termite activity and damage
- Helps you understand the true condition of the property
- Provides peace of mind that the property is fit for purpose
- Saves you from costly repairs if the report finds there are serious repairs required that you may not have known about prior to purchase
Know exactly what you're bidding on with a pre-auction building and pest inspection
Book your pre-auction building and pest inspection with a company you can trust at Dedant Building and Pest Inspections.