_{2.26 – Dave kicks off the episode}

_{6.28 – How do building inspections vary from pest inspections?}

_{6.18 – Building and pest inspection costs can rack up some costs; how can a price-conscious buyer approach this?}

_{16.20 – What does the timeline look like when arranging building inspections?}

_{21.55 – Trends to watch in 2025!}

_{36.30 – Cate’s best tips for selecting a great building inspector}

_{32.54 – Gold Nuggets}

This week, Dave hosts the show and the Trio chat all things Building Inspections.

Cate starts out by clarifying the purpose of a building inspection. Contrary to popular opinion, building inspections aren’t tickets to renegotiate a sale. Under certain circumstances, a renegotiation can occur, but the market conditions and competing buyer numbers will likely determine this.

Building and pest inspections each require a distinct qualification, and Cate sheds light on the differences and methods of each, and the aspects of an inspector’s findings that are conducive to pest infestation.

Dave broaches the costs that can rack up when buyers are in the hunt for a property, particularly in the case of auction campaigns. The Trio chat about some of the ways that buyers can approach this issue. Cate also has some tips about ‘on-sold’ reports.

Sometimes property negotiations can move very quickly, especially when an auction property receives a strong offer prior to auction day. Cate steps the listeners through the timeline that buyers need to be mindful of when arranging a building and pest inspection. Dave highlights the importance of managing a due diligence checklist.

Should buyers get a building inspection before they negotiate a deal, or after? There are many different situations that buyers face, and sometimes it’s not possible to avoid organising an inspection prior to securing a property. The Trio chat through some of the situations that buyers face, and how they need to navigate the building and pest inspection process.

The Trio break down the building and pest inspection clause. From legal wording to the options that buyers have, this detail may be tiny, but it’s very important.

Cate shares some good questions for buyers to ask their building inspector when a fault or an issue is identified.

• What is the severity?What do I need to do to address the issues?How quickly should I do so?

• What is the risk if I don’t address immediately?

Building and pest inspectors have their limitations and there are a number of things that the inspector won’t check. Cate talks through some of these scenarios for our listeners and provides a real life example that she recently experienced.

Lastly, the Trio chat about how buyers can source a great building inspector, and the secondary benefits of building inspections.

.…. and our gold nuggets!

Mike Mortlock’s gold nugget: Mike shares two gold nuggets…. the importance of impartiality when asking for a building inspector recommendation. Mike seconds Cate’s firm recommendation to ensure that a discussion with the building inspector ensues. Relying on the report alone can lead to some panic for many, and obtaining clarity and context on the issues is valuable.

Cate Bakos’s gold nugget: Some things can look worse than they are, and cracking isn’t always a big deal. Other things that seem benign can be problematic. Building inspections are valuable.

Resources:

If you enjoyed this episode, you may like to go back to enjoy these eps!

7: How to assess and select property like an A-grade buyer agent

73: Preparing for Auction: Part 1 – Appraising, budget setting, due diligence, reserves, low-ball offers & auction twists 

102: How to determine property market values by using comparable sales 

165: The extra mile buyers should go when inspecting a property

212: Unlocking the Secrets of Inspecting Property – Expert Strategies for Assessing Properties like a Pro

Upcoming episode is #292: Trends to Watch in 2025