Why should you physically inspect property?

Physical Inspection

It is important to remember that vendors (property owners) and real estate sales agents have one thing in mind – to get as much money as possible and sell a property quickly. This goal to sell at the highest price possible makes sellers spend money on cleaning up the property, in photographs of the property as well as in the listing wording and handout flyers and it’s all to make the property look as good as possible.

Physically inspecting a property gives a more realistic look at the state of repair of the building as well as an understanding of space and dimensions. This stage can also give a buyers agent some perspective on the expectations of the vendor.

Some vendors need to sell a property quickly because they have committed themselves elsewhere and some understand that if they want to sell relatively quickly that they need to meet the market – which just means they need to accept what the highest bidder is willing to spend at the current time.

Building & Pest Inspection

A physical property inspection, when carried out by an experienced buyers agent, will reveal things about a property that may not be evident in sales brochures and contracts or even images using Google Maps or Google Earth, but the most thorough inspection is a building and pest inspection.

A building and pest inspection is designed to confirm the quality of a property as well as any structural and building issues which might need to be addressed.

The problem with a building and pest inspection is that they cost several hundred dollars and every potential property buyer needs to do one to be certain that what they’re buying is sound. If you expect to evaluate more than one property then the cost of these inspections alone could be quite a lot.

A good buyers agent has good relationships with several building inspectors and will be able to organise a low cost pre inspection to cover vital information, which can be confirmed in a full building inspection as part of the offer and acceptance process.

Learn about the Property Search and Discovery stage of buying a property or enrol yourself into our Property Investment Academy program.