How a Pre-Purchase Building Inspection Can Get You Out of A Sticky Contract

It happens more often than you’d think. You’ve spent tons of time looking for that perfect property and you think you’ve finally found it. You’ve already signed the contract and then you discover the worst type of problem: an expensive one!

 

Maybe the building has damage to the ceiling that you didn’t see before. Or maybe there are significant safety hazards that should have been disclosed. If you’re an investor, these hazards will prevent you from renting the unit out, and if you’re a homeowner this could place you and your family in danger!

 

Luckily, a pre-purchase building inspection can help you avoid these kinds of situations. Before you sign a contract, a licensed inspector will perform a detailed inspection of the property. This professional will be able to identify defects and damage BEFORE it costs you a tremendous amount of money.

 

If the inspection report  comes back and shows that the property is in good shape and without any major issues, then you can move forward with your purchase. If, on the other hand, the inspector identifies problems with the property then you’ll want to discuss them with the seller. If the seller is uncooperative then you may be forced to end the deal. The pre-purchase inspection report should provide plenty of evidence to show that you are not getting what you originally signed up for in your contract.

 

Home buyers and property investors deserve to know everything they can about the property before they go through with the purchase. If you want to be sure that you are getting the best value for your money and not investing in a bad property, you should contact Pink Inspection Services today.

 

At Pink Inspection Services, we have over 20 years of experience providing top-notch inspection services for our clients. Our inspectors are fully licensed and insured and trained to identify major and minor issues with properties. We pride ourselves on our fast service and high quality reports. For more information about what we can do for you, contact Pink Inspection Services today!

7 Prominent Places of Timber Pest Activity

Termite damage can cost you thousands of dollars in repairs and significantly lower the value of your property. Savvy home buyers and property investors know that it’s extremely important to identify the presence of termites before it is too late. To help you with this, we have provided you with a brief list of the 7 most common places of timber pest activity.

 

1.  Wood outside your home

 

If you have any stacks of firewood near your home or large tree-lined areas then you have an increased risk of timber pests. Termites and other pests usually infest areas outside your property before they make their way inside. If you have firewood near your property then you should make sure it isn’t touching the house and tree-lined areas should always be treated for termites.

 

2.  Soil near the wood of your home

 

Many property managers and home buyers don’t realise that the soil near the property can be a problem area. Termites create tunnels to travel within the soil and this can give them access to the timber in your property.

 

3.  Walls

 

Termites can use their mud-shelter tubes to travel all over your property, including the walls. Look for large accumulations of mud stuck to the walls—especially in your basement.

 

4.  Standing water

 

Leaky plumbing can leave large areas of standing water on your property and termites thrive in humid locations like this. Keep in mind that standing water that is both inside and outside of your property can be quite attractive to timber pests.

 

5.  Exposed wood

 

Another common target for timber pests is exposed wood. The most prevalent places for this type of wood will usually be in the attic and basement. Exposed wood is much easier for timber pests to access so it must be carefully monitored for any signs of activity.

 

6.  Cracks in your foundation

 

This is another area that will give timber pests easy access to your property. Cracks in the foundation should always be repaired as soon as possible, to prevent infestation.

 

7.  Near chimneys

 

Termites and other timber pests like to stay warm in the winter and this can lead them to settle in near your chimney.

 

If you identify and treat timber pest activity early enough then you can prevent costly repairs in the future. Pink Inspection Services has been in the pest inspection business for over 20 years and our high comprehensive and detailed Visual Timber Pest Inspection Reports are simply unbeatable!

 

 

If you’re a property manager or home buyer in the Sydney area and would like to learn more about our Pest Inspection services, please contact us today!

How a Strata Report Can Help Uncover Previous & Existing Problems or Disputes Amongst Committee & Occupants

If you’re in the market for a strata-titled flat or unit in Sydney then you deserve to know everything about the property before you sign on the bottom line. One of the best ways to get this information is with a Strata Inspection Report. These reports reveal VITAL information that you simply must know before you get too far into the deal.

 

A Strata Title Inspection will include details about insurance, litigation, levies, contract breaches and much more. Unfortunately, sometimes the occupants and committee of a building do not get along well. Wouldn’t you like to know whether or not there was a history of conflict or disputes within a building before you invest your money?

 

These issues can have a serious impact on your quality of life and can even lead to legal trouble. Luckily, Strata Reports will be able to review the building records—including the minutes of the Body Corporate meetings! This is where you should look if you want to investigate the existence of problems between tenants or owners.

 

Sometimes you aren’t given the whole story before you enter into a property contract and this can lead to serious problems. Property investors deserve to know everything so that they can make an informed decision.

 

Before you get into a Strata Contract, you should contact Pink Inspection Services. Our highly detailed Strata Title Reports can uncover any documented evidence or trouble with owners and residents. At Pink Inspection Services, we have a reputation for providing lightning-quick reports that are of the highest quality. Each Strata Report is easy to understand and customized to your needs and concerns.

 

Discover why over 600 conveyancing and legal firms trust Pink Inspection Services to perform Strata Title Inspections for their clients. You simply won’t find a more trusted and qualified service provider in Sydney. Order your Strata Title Inspection Report today and get the facts that you deserve!

Does The Property You’re Looking to Buy Have a Pool?

Pool in backyardSavvy homeowners and property investors know that having a pool can be a double-edged sword. On the one hand, you have a feature that can have a dramatic affect on the value of the property – many Sydney home-buyers set out especially to find a property with a pool and as a result, are prepared to pay somewhat more for one property over.

Hazardous Situations

At the same time Australia’s pool safety record is not great. Pools can be extremely dangerous, especially for young children. As such, our regulatory environment has become much more strict on homeowners and investors to come into line with continually update pool safety legislation. And while it can seem like a burden at the time, the prospect of saving the lives of Aussie children is well worth the time and effort.

One measure that has been implemented from state-to-state is the requirement to obtain a pool safety certificate.

Often people make mistakes when they organise their property. This can result in children climbing on furniture to gain access to the pool area, or tripping on furniture – falling into the pool. When you start to research the topic, you’ll find out that there are many different hazards that you should look out for when you buy a home with a pool. Most people simply aren’t aware of these things and this can be a disaster later on!

Property investors can face serious legal problems if they don’t have a proper inspection and take care of any issues that are identified. Likewise, homeowners are presented with the same problems and they also have the safety of their loved ones to look out for.

Obtaining Pool Inspections

A pool inspection is invaluable for discovering these sorts of issues before you sign on the dotted line. Your realtor or buyer’s agent should be able to point you in the right direction of a certified pool inspector. They should also make your obligations as an owner or investor clear.

Swimming pools can be wonderful additions to any property, but it’s important to have a proper inspection to make sure everything is safe and free of hazardous defects. Speak to your realtor, buyer’s agent or local council today to find out more information about pool inspection services.

What Every Property Investor Ought to Know About Termites

One out of every three homes in Australia has termites, according to the Commonwealth Scientific and Industrial Research Organisation (CSIRO). And here in the Sydney area, the chances of termite infestation is considered to be higher than average.

That’s why property investors and homebuyers, in order to protect their investments, need to know as much as they can about termite prevention and control. It’s essential to preserve the value of their property.

Termites (or white ants) destroy property from the inside out. Once they find a piece of timber near to the ground, they can slowly, but surely, hollow out every structural timber right up to the roof. If left to their natural ways, termites have been known to cause many thousands of dollars of damage to Australian homes.

HTermite Pest Inspections Sydneyow Can You Protect Against Termites?

Begin by inspecting your home and surrounding property about twice a year for signs of termite infestation. Look for mud mounds or tunnels in your yard and around your home’s foundation and check your sub floor for damage. Also look for swarms of flying termites in the spring.

Remove all timber stacks, old stumps, building refuse and cardboard stacks from your property. And since termites are drawn to water, repair all leaking water pipes and capture any water that drains from your home’s air conditioning units.

How Can You Control Termites?

If you’re doing regular inspections and discover signs of termite infestation, don’t panic. Just because termites are found around your yard doesn’t mean they’ve necessarily caused damage to your property. But you should have someone come to inspect the infestation. Fast.

Although there are some DIY termite remedies, termite infestation is much too serious of a problem to be left to the amateur. The best course of action is to call a professional termite control expert to analyse your problem and offer effective solutions.

Remember the value of your home is at stake, so act quickly and act wisely.

For peace of mind, visit Pink Inspections if you would like to get a Pest & Termite Inspection before you decide to buy a property in Sydney.

For more information, check out what the NSW Government of Fair Trading have to say about termite risk management on new home or addition builds.

Five Common Contract Traps When Purchasing Property

Old Low-Set HomeHomebuyers and property investors, especially those with little to no experience, need to pay close attention to what they’re doing and what they’re signing, if they want to protect the value of their investment.

One of the things that comes along with working in the Building and Pest Inspection Industry is dealing with customers who have been burnt by dishonest buyers and agents. We take great pride in restoring balance and fairness to the equation with thorough building and pest inspections.

It ‘s imperative to do your due diligence and read the fine print before making a deal or signing a contract. Once you’ve signed on the dotted line, there’s no such thing as a do-over.

Here’s a short reminder of the five of the most common home buying contract traps to be aware of.

1. Confusion About The Type Of Property

There are many types of legal property. They include leaseholds, company shares, torrens titles and strata titles. Each has its own specific advantages and disadvantages. Be sure you know exactly what you’re getting into.

2.  Signing A Contract Under Pressure

Never let yourself be pushed into signing a contract until you know exactly what you’re doing. Once signed, an agreement is a legally binding contract. There’s no getting out of it.

3.  Ignoring “Special Conditions”

Be sure everything in the “Special Conditions” of your contract, such as pest inspections and pre-purchase property inspections, are completely handled by a qualified expert before putting your signature on an agreement. Once you sign the contract, the special conditions are considered to be met and accepted.

4.  Neglecting Deemed Consent Conditions

Anytime a contract has conditions that are deemed satisfied unless you advise the seller to the contrary, you are exposing yourself to the danger of being personally forgetful or neglectful. Always be on your toes.

Here’s one final warning to all homebuyers and property investors – The agent is always working for the seller, not for you. Only give them as much information as they need about your desires and financial situation. Play your cards close to your vest to get the best deal.

Three Helpful Hints for Buying into Strata Schemes

Unit Block SydneyStrata schemes are more popular than most Sydney homebuyers realise – particularly when it comes to apartment apartment living. But it’s important to understand that buying into a strata scheme is not like buying a traditional property.

Strata schemes have their own specific rules and regulations, plus individual obligations and collective responsibilities that you should be aware of before signing a contract.

Pay close attention to the following three considerations before making a purchase.

1. Read the Section 109 Certificate

The Section 109 Certificate, issued by the strata manager or owners’ corporation, provides up-to-date financial information of the scheme. This is important because you need to know how well the scheme is being managed.

This report will disclose levy contributions and outstanding levy amounts, special levies or fines (if applicable), insurance coverage and any recent by-laws adopted by the owners’ corporation. It will also provide names and contact information of managers, caretakers, executive committee members and where to find financial records and statements. Be sure to do your due diligence by reading the fine print.

2.  Be Clear About Applicable Levies

In a strata scheme, the owners’ corporation is funded in two different ways. An administration fund addresses the current day-to-day expenses, while a sinking fund covers long-term costs.

The levy amount is voted on annually at a general meeting and is usually paid on a quarterly basis. The levy covers such items as common utilities, maintenance and repairs and insurance for the building and public liability.

In order to be prepared, prospective homebuyers and property investors should be absolutely clear about current applicable levies.

3. Know And Understand The By-Laws

Each strata scheme has its own set of by-laws by which you will be expected to conform. These rules can apply to just about anything your neighbours deem appropriate to common behavior.

For example, they may address items such as use of common property and areas, noise levels, safety and security measures, garbage disposal, pets and the installation of satellite TV equipment and air conditioning units.

Before buying into a strata scheme, be sure you know and agree with the by-laws. Your future co-owners can be very strict about rule infractions.

One last tip for home buyers and property investors going into a strata scheme is to make sure you get good, sound professional advice from a lawyer, conveyancing specialist or professional strata researcher.

The Section 109 Certificate, owners’ levies and by-laws can be overwhelming and confusing, so it pays to have someone on your side to check out the details before you sign on the dotted line.

Seven Helpful Facts About Termites

Costly Termite DamageTimber damage by termites is prevalent all over Australia, so it only makes good business sense for anyone involved in any type of real estate transaction to find out all they can about termites and termite control.

In fact, termites have been known to chew their way through the walls and roof of a newly constructed home in just three short months! That’s an incredible amount of damage in a very short period of time. The cost of termite damage can quickly add up.

You can see why prospective homeowners and property investors must always check for these destructive pests before making a purchase, even if the house is brand new.

 Seven Eye-Opening Termite Facts

  1. More damage has been done to homes in Australia by termites than has been done by storms, floods and fires combined.
  2. Studies have revealed that as many as one third of unprotected homes are presently under attack. Be aware that the risk of termites increases within 100 metres of mature gum trees.
  3. Homes built with softwood are more susceptible to termite infestation since termites find this species of wood particularly tasty.
  4. Termites are voracious. They eat 24 hours a day, seven days a week over a lifetime of about one to two years. Termite queens are known to live for as long as ten years.
  5. Termite damage can be found along foundations, on windowsills, and behind stained or blistered paint and wallpaper. Damage behind walls can be determined by banging on the wall with a hard object. Listen for a hollow sound. If an icepick or screwdriver sinks into the wood, you have a problem with termites.
  6. Termites are attracted to damp wood, so make sure all water drains away from your home.
  7. Termite damage is not covered by most Australian homeowner policies. Homeowners and property investors are responsible for keeping their own properties termite free.

Do-it-yourself termite control is possible, but the risks often outweigh any cost savings. Your home or investment property is a large financial investment that termites can destroy in matter of months. Don’t take any chances. Let a professional pest control company do what they do best and keep your home termite free.

Want more weird facts about termites? Check out this list: “10 Cool Facts About Termites“.

Five Common Unseen House Defects

Many house defects are hiding in the walls, in the basement or under a brand new coat of paint. And unless you have an extensive home construction background, you’ll have little to no chance of spotting these hidden defects.

There are, however, a few things you can look out for when touring properties. Here are five of the most common areas for unseen house defects that are often overlooked by homebuyers and property investors.

Building Reports Identifying House Defects

1. Roof Leaks - Checking a roof for defects is a lot more than taking a walk around the house looking for popped nails or missing shingles. Water damage from a leaky roof can show up not only on ceilings and walls, but also in the attic or crawl spaces.

2. Heating, Ventilation and Air Conditioning Systems – Before purchasing a home, the heat, ventilation and air conditioning systems (HVAC) must all be tested properly.

3. Damaged Windows or Doors – Windows and doors, both inside and out, need to be examined to see if they’re level, working properly and have sufficient weather stripping. Glass doors should be checked for insulated energy-efficient glass. Every window in the home should be opened and closed to make sure it’s working properly.

4. Carpets and Floors – Rugs and carpets should be checked for wear, tear, mold, and water damage. Carpets should be lifted to inspect the condition of the flooring underneath. Remember, there are many types of damage that can be hidden with a nice looking rug!

5. Appliances – All major appliances should be checked to confirm that they’re in good working order. Appliances don’t last forever, so it you’re purchasing a home with older appliances, you’ll need to budget for replacements fairly soon.

It’s easy to see why many homebuyers and property investors bring in a professional home inspector to examine a house before signing a contract. Here’s just one example of a web page dedicated to showing people how to cover up damaged ceilings!

That allows them to focus on the lovely new kitchen cabinets and freshly painted bedroom walls, while the home inspector checks out the basement, the attic and all the other nooks and crannies that may be hiding damage.

Negotiate a Better Price on Your Next Property Using a Building Report

The decision to buy property is not always as easy as one may think. There are many different factors that come into play, with one of the most important being price. If you’re currently looking to buy a piece of property, you’re going to want to do everything in your power to negotiate a better price, including using a building report.

 

Expert buyer’s agents use pre-purchase inspections to achieve better prices and you can too! The real art is in knowing how to leverage any key areas identified by the report in your price negotiation.

 

Building Inspection Report

Building Report

The purpose behind obtaining a building report is to uncover any possible defects that may initially go unnoticed. A building inspection report will list the problems a particular property has so you’re able to understand the true condition of the property, which gives you the knowledge and power to negotiate a better price.

 

How to Negotiate a Better Price on Your Next Property

Let’s say you made an offer to buy a piece of property with the inclusion that a building report is to be done on said property. If the building report comes back stating that the walls in the bathroom need to be replaced due to mildew, then the cost of replacing these walls can be used to negotiate the price down so you’re not out more money for the cost of repairs.

 

If you didn’t have a building inspection report performed, then the money you’re going to need to correct any problems  is going to be in addition to the actual purchase price of the property.

 

A Few Tips

Unless you’re planning on knocking down any structures, it’s in your best interest to get a building report performed on the property before making such a large purchase. Here’s some helpful tips on how to use this information when negotiating on a property purchase from Your Investment Property Magazine. Using a buyer’s agent is recommended for anyone looking to fully leverage the information in a building report – especially if you’re not sure where to start, as they work closely with building inspectors. If you have any questions once the report is completed, be sure to discuss them with the inspector as they can provide the best answers.