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DIY inspections - A good idea or not?

Thursday, January 12, 2012

It’s tempting to think that with some sort of checklist you can do a pre-purchase inspection on a property yourself. STOP and reconsider! Yes, in the short-term you might save a few dollars but it is likely that you will miss some issues that in the long-term could be costly to fix.

Any problems identified with a professional pre-purchase inspection will probably not deter you from buying the property, but at least when you buy it you have your eyes open. Some problems can be straightforward and easy to fix but other issues can be major ones. You can use the report to negotiate a better price.

DIY Inspections: How to spot a lemon“ published in the Sydney Morning Herald says you should do two sorts of checks: the first is to do your own initial appraisal, and the second, if you are keen on the property, is to bring in the experts such as Tyrrells.

The article quotes one property investor saying, “Although the [Tyrrells] report cost $1200, it was worth it. They gave us a written report and we also had access to the inspector before and after the inspection. He was really prompt in calling us … he gave us some positive buying points as to whether the property was sound and what maintenance was required.”

A Property and Timber Pest Report from Tyrrells is comprehensive (several pages), is available within one day of the building inspection and draws your attention to any issues you need to know about before you sign a contract to purchase the property. A building inspection from Tyrrells can take any uncertainty and worry out of the buying process.

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