A home is one of the most expensive things you can purchase. As such, you must observe caution when purchasing a house. The extract below provides a few tips to ensure the purchase does not expose you to future liabilities.
Ask for a House Inspection
A house inspection examines the current condition of the property. It includes the following.
- Evaluating the structural integrity of the house. Damage to structural members such as pillars and slabs is an indication that the house was poorly built.
- Inspecting the home for signs of pests such as termites, ants and cockroaches.
- Looking for the presence of land contamination caused by minerals or leaking sewer systems.
- Checking the state of stormwater drainage systems and the susceptibility of the property to natural disasters.
- Investigating the quality of interior finishes and appliances in the house.
- Considering use of space and availability of light inside the house. The inspector will also evaluate the energy efficiency of the property.
Buying a House With a Swimming Pool
A swimming pool is one of the best recreational spots you could have in your home. A pool compliance certificate is a document issued by the local council to confirm that the pool meets the required safety standards. If the homeowner does not have a pool compliance certificate, you could ask him or her to request an inspection from a reputable pool inspector. If the pool does not meet the set standards, the inspector will recommend some renovations.
Renovations
Has the home had some upgrades? Well, the owner needs council approval to conduct some of these renovations. Minor repairs such as interior restorations and installing small landscape fixtures such as decks and gazebos may not need council approval. However, improvements that alter the structure of the house and service lines such as water and gas lines require approval.
The Contract of Sale
Critically evaluate the contract of sale. Preferably, ask your conveyancer to explain the terms of the agreement. For instance, the seller should disclose property defects such as the presence of asbestos or poor drainage that may affect the property's price. It should also compel the seller to conduct renovations on the property. You must understand the contract's contingencies. For instance, what would happen if you are unable to obtain financing? What happens if the seller opts out of the deal after signing the contract? In essence, the agreement must protect your interests. Contact a conveyancer at a firm like Maguire & McInerney Lawyers to learn more.
When buying property, demand for a house inspection, ask for swimming pool compliance certificate, examine renovation permits and understand the terms of the contract of sale.
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