If you’re about to purchase a property, you are probably not looking forward to the dreaded property inspection. I can’t say I blame you as they certainly don’t come cheap and, let’s face it; a property inspection is not a potential property owner’s idea of fun! Instead of dreading this exercise, why not try and get the most out of it? Here are some tips how you can do just that.
The aim of a property inspection is to evaluate the real condition of a property and to determine if any repair work is necessary. Therefore, if any problems do arise (such as rising damp, cracks in the foundations, mold, and mildew, etc.) ask your property inspector to let you have a quote for the repair work. It may be marked up, but this way, at least, you will have a good recommendation that you could contact directly for a lower price.
Once the property inspection has been conducted, contact a second contractor for a comparison quote. This is essential to ensure that you are not being ripped off! When quoting, ask the contractor to walk around the property with you and to check if he believes that any additional work or repairs are required. This effectively means that you are having a second property inspection conducted free of charge!
While faulty foundations are probably the most serious of problems you can encounter when purchasing a new property, do not forget to neglect the electrical, sewer and plumbing systems of the assets as these can be costly to repair as they often require a lot of work. Inspections of these elements are often not included so be sure to ask about this.
A soil test may seem unnecessary but is well worth having this done as pollutants, such as lead, can have detrimental effects on your property in the long run. If you are concerned about mounting costs, do not be afraid to negotiate the price – your property inspector is not a monster!
Be present at your property inspection, and ask your inspector if he does not mind if you walk around with him while he conducts the inspection (most won’t mind). Also, don’t be afraid to ask questions about what your property inspector is doing. Remember: knowledge is power, and the more you learn about the state of your property, the better!