Before a property purchase, it’s essential to have accurate reports prepared before signing a contract. The report you need will depend on the type of property you’re buying.
For example, you’ll need a building and pest inspection report if you’re buying a house. Meanwhile, you’ll need a strata inspection report if you’re buying a unit.
The two reports examine different features of the properties and can reveal different details.
Building and Pest Inspection Reports
For houses, inspection reports note various details about the building and site. The inspector examines different parts of the property to determine the severity of the repair. Some of the areas that the inspector will examine are:
- The roof exterior
- The roof space
- The exterior of the building
- The interior of the building
- The underfloor space
- Stormwater run-off
- Paths and driveways
- Separate buildings such as carports, garages, sheds, or laundries.
The inspector will also identify damage and potential problem areas. They may also identify termite damage and some visible signs of asbestos. The inspection report will also detail the limitations of the inspected areas and the reason why this is so.
Company like Effective Building & Consultancy conduct building and pest inspection reports. Most will need 2-3 days’ notice and set an arrangement with the vendor. Most prospective buyers pay to have building and pest inspection reports done, though, at times, vendors provide it.
Strata Inspection Reports
Compared to a house, inspecting a unit has a different set of criteria. Aside from the physical condition of the unit, inspectors will check the strata agreement itself and some of the building’s intangible attributes in which the unit resides.
Inspecting a unit requires a different set of criteria than inspecting a house. In addition to the physical condition of the unit, inspectors will examine the strata agreement itself and some of the more intangible attributes of the building in which the unit resides.
Strata inspections look at details such as:
- The interior of the unit
- The exterior of the unit
- Compliance with asbestos and fire rules.
- Major expenditures
- Any other special levies
- Quarterly strata fees
- Voting rights and entitlements
- Building reports
- Insurance for the building
- Whether or not the building is harmonious.
The strata inspector will also look at the copies of Owner’s Corporation yearly general meeting minutes and minutes from any other meetings.
Having a strata inspection report is important because the unit you’re buying doesn’t exist in a vacuum. It will be part of and subject to rules and regulations governing the community it is located in.
Furthermore, a strata report can warn you of a property if the rules and regulations are burdensome or if they come with excessive levies or sinking funds.
For more information about our building or strata inspections, call us now on 02 9613 3353.