The Risk of Not Having a Building Inspection

It is undeniable how competitive the real estate market is today. And we’re not merely talking about the sellers as well as the burdens they must go through to close the sale of their property immediately. In fact, even prospective buyers compete. It mainly happens to local markets wherein only a few options are available. You will be in a race situation against time to buy what you consider as your ideal home once your loan is approved.

Article 9 300x281 - The Risk of Not Having a Building InspectionAlways remember that you are not the only one who is interested in the same house. With that in mind, you tend to make sudden decisions that could otherwise become your greatest mistake in the hopes of getting one step ahead of your fellow buyers. You choose to forego or renounce your right to invest in a Building Inspection Adelaide due to the fear of losing the house to another prospective buyer. However, you should not feel confident that there’s nothing wrong with the property you wish to buy. Again, similar to any gamble, there’s no assurance that you will win.

Since numerous things are at stake when purchasing a property, you should never attempt to skip a building or home inspection. Keep in mind that you must only feel confident if you are building a new house from the ground to up. Always remember that you are risking the chance of getting buyer’s remorse in the process if you choose to ignore the value of building inspection.

If you decide to avoid getting a building inspection before buying a property, prepare yourself to face these following risks.

  1. You end up not having a clue about the building’s structural problems.

The only way for you to learn about the hidden safety and structural issues within a property is through inspection. That’s why building inspections are a critical part of a home buying process. Take note that only an expert like a qualified building inspector can see if there are issues you should know even if you have spent some time inspecting the house you wish to purchase via home staging. You will likely end up regretting your investment for the rest of your life if you fail to seek a home inspection.

  1. You have nothing to bargain or leverage when it comes to negotiating the price.

A lot of negotiations are involved in purchasing a home. You have to talk to the seller or his/her agent and make offers and counteroffers. Fortunately, you get the advantage of negotiating for the lowering of the price, especially if a lot of things require repairs by doing a pre-purchase building inspection. You can talk to the seller and then propose that you will cover the repairs in an agreement of decreasing the price. So if you don’t perform a Building Inspection Adelaide, you will not experience this advantage.