Understanding The Process Of Buying A House: A First-Timers’ Guide
So you’re ready to buy a house but still coming to grips with understanding the process of buying a house in Queensland? In this article, we’ll take you through the basic process of buying a house and the importance of building inspections.
Obtaining finance and researching the best home loan solution for you is the first step in the process of buying a house. This can take anywhere between 4 – 6 weeks, depending on your loan and grant eligibility.
2. Start House Hunting
Looking for the perfect home can be so exciting, but there are lots of things to consider when house hunting, especially in older homes without regulated building approval. You’ll also want to look out for evidence of damp, pest infestations or structural issues – things that can be easy to spot if you know the signs.
3. Making an Offer
Making an offer and paying a deposit is the next step in the process of buying a house in Queensland. Once accepted by the owner, it’s here, during the cooling off period, that we step in for your all-important building inspection.
4. Building Inspection
The building inspection is – for us – the most important part of the process of buying a property. An experienced and impartial building and pest inspector can uncover hidden property issues – and this information can be the crucial difference between purchasing a dream home and buying a money pit.
While there are signs you can watch for when buying a house that will indicate issues, a professional building inspection and comprehensive building inspection report are key. We’re thorough and professional, identifying issues that may be dealbreakers when it comes to buying your house. For tips on choosing your building inspector, and the questions to ask, click here.
What Happens If A Building Inspection Finds Major Issues?
It’s important to note that if the building inspection finds major structural issues, pest damage, damp or other problems you’re not prepared for, you can pull out of the sale and have your deposit returned if you want to.
Another option is renegotiating the purchase price. Major structural or maintenance flaws identified during the building inspection can give you grounds to go back a step in the process of buying a house and renegotiate with the seller.
Hopefully this has helped in understanding the process of buying a house in Queensland, and the importance professional building inspections play in protecting your investment.