why do a PRE-PURCHASE INSPECTION?

Purchasing a property will have legal and financial considerations. The sales contract that you sign is binding and it is important that you understand the terms and conditions of that contract. An executed sales contract for a private sale should allow you the right to inspect the property for any major and minor defects at the time of purchase and generally within 14 days of you signing the contract. Sales contracts are generally drawn up by the vendor’s conveyancer in accordance with the Sale of Land Act 1962, Law Institute of Victoria Limited (LIV) and The Real Estate Institute of Victoria (REIV).   

Any property you are considering purchasing at auction should be inspected prior to the auction date as the sale is unconditional upon the vendor accepting your bid.  To ensure the property you are purchasing is free of major defects, that minor defects are brought to your attention and that termites and pest and not infested throughout the property you must undertake a pre-purchase building and pest inspection. 

Checklists are the backbone of the aviation industry as they ensure nothing is missed. With the complexity involved in purchasing a property it's easy to miss a critical step. . The Captain's Property Checklist can help guide you to your destination safely. Boarding commences with a pre-purchase building and pest inspection. It is now time for you to call the Captain.