Issues With Building and Pest Inspections

When you are buying a home, it is important to conduct building and pest inspections to ensure that the property is not damaged or infested with pests.

You should ensure your contract is subject to a building and pest inspection and make enquiries of an inspector prior to signing the contract to ensure that the timeframe in the contract for obtaining the report is sufficient.

If the building and pest report identifies any issues, it is important that you raise this with your conveyancer as soon as possible. Your conveyancer can assist in negotiating a reduction in the purchase price or requesting the seller to complete the repairs prior to settlement.

You only have until 5.00pm on the building and pest inspection date to confirm whether you waive the condition, are satisfied with the condition or are unsatisfied and that you are terminating the contract. If the matter is not resolved prior to 5.00pm on the due date, the seller can terminate the contract. Accordingly, it is important that you address any issues in the report with your conveyancer prior to the due date so that the parties have sufficient time to negotiate the contract.

For further information or if you need assistance with buying a home, contact one of our friendly conveyancing team on 07 4081 6700 or lawyers@marinolawyers.com.au