Pre-Purchase Inspections VS Pre-Sale Inspections – Knowing The Difference Could Save You Big Time
It would be nice if you could simply take people at their word. Most people are good and honest but there are sharks out there who are looking to take advantage of the ill-informed buyer. This means that when it comes to pre-purchase inspections you need to be on the look-out for half-truths and obfuscations.
There is a little bit of misinformation out there about the difference between a pre-sale inspection and a pre-purchase inspection. Knowing the difference between the two could end up saving money, time, heartache and even your relationship.
What is a pre-sale inspection?
A pre-sale inspection is carried out on the owner’s end. It’s typically done in conjunction with the real estate agent and agency who will be managing the sale of the property.
This inspection is not carried out in order to highlight and address any problematic areas prior to sale. Instead, it is done to ensure that the agent is aware of any potential hurdles that will pop up during negotiation and settlement. This is an inspection designed to SELL, not safeguard.
Relying on the pre-sale inspection report if you are the buyer is then, obviously, fraught with issues. You’ll be relying on documentation that’s designed to get your money rather than to happily secure a property that will see your family through the next twenty years. If you’re purchasing an investment property, relying on this report will mean that you just don’t know what you’re buying and how this purchase may have a plethora of negative implications for you down the track.
The savvy purchaser can draw some conclusions here about trust and authenticity. Putting your deposit behind a pre-sale inspection, carried out by someone unknown to you and with whom you do not have a professional relationship, is a dangerous move. Generally, these pre-sale inspection reports are done in very broad terms and lack the kind of detail needed to make an informed decision. They are created to benefit the real estate agent selling the home and the seller themselves – not you.
You need an ally and you need to know that they’re doing right by you. That’s where Action Property Inspections come in.
What is a pre-purchase inspection?
You might be unsurprised to learn that Action Property Inspections are rarely secured to carry out pre-sale inspections. Why is that, you may ask?
The answer is simple: our attention to detail.
Where pre-sale inspections are done in broad strokes and vague terms, a pre-purchase inspection is done FOR the buyer. It is a detailed document and photographic series that outlines absolutely everything about the property down to the most minute detail. It is a document designed to give you the ammunition and proof that you need to negotiate a purchase price that is reflective of the actual value of the property as opposed to what the real estate agent would like you to pay.
You will have to pay for a pre-purchase inspection – that goes without saying. But consider the return on investment. You’ll know exactly what you’re walking into and you’ll have the power and proof behind you to negotiate inflated costs down so they’re equivalent to the property’s actual worth. It’s a savvy investment in your own future and one you’d be naïve not to make.
Ultimately, the difference between a pre-sale and pre-purchase inspection comes down to who both reports are intended to benefit. So who’s looking out for you?
Be part of a winning team
It is of the upmost importance to have an independent inspector whom you can trust. Action Property Inspections are powered by over 25 years’ worth of industry experience, consummate professionalism and an unquenchable thirst for sticking up for the little guy (that’s you). The only motivation behind our pre-purchase inspections is the desire to ensure that buyers are getting their money’s worth instead of getting led up the garden path.
Sure, some pre-sale building inspections may be done correctly and with the best intentions. They may be crafted to allow owners to diligently fix up issues prior to sale. Everyone could communicate openly and honestly and conduct themselves in an appropriate manner.
That could happen. But are you willing to risk it? Wouldn’t you rather be part of a team that is focused on hard work, results and honesty? How much are you willing to leave to chance by taking a risk on a pre-sale inspection?
If your pre-purchase inspection reveals that the building has significant issues that were glossed over or not alluded to earlier in the negotiation stages, having a quality pre-purchase inspection report behind you will provide grounds for you to receive your money back. Consider it a life raft in the rocky seas that are property purchasing and investing.
Pre-Purchase Inspections at Action Property Inspections
There’s no need to be scared, anxious or overwhelmed. Your best weapons in property negotiations are knowledge and documentation. A pre-purchase inspection is a vital step in your battle plan and without it, it’s very difficult to win the war. Find out more about pre-purchase inspections here.
Action Property Inspections have been servicing the Brisbane community for over twenty-five years. We provide detailed reports to prospective purchasers that arm them with the knowledge needed to take the plunge into settlement. If you’re wondering what the difference is between a pre-sale inspection and a pre-purchase inspection then it’s clear that you need us. Let us help you cut through the spin and get straight to the truth where you can secure an investment for your family’s future.
You can book a building and pest inspection online safe in the knowledge that we are not a faceless chain or corporation, but an owner-operated business with a focus on customer service and satisfaction.