Why you should get a building inspection on your own home.
This is a cautionary tale. It’s the true story of what happened to some clients of mine. If you’re thinking about putting your house on the market you should read it.
The unexpected problem
It all started with a chat over a cup of coffee one lazy Sunday morning...
"Maybe we should buy a house and start a new project?" said the wife to the husband. And there it began.
The couple started looking at properties to buy. They didn't even pause to think that their house might not sell. They knew the market, and they knew how well their house compared.
Next minute. They bought a house at auction.
Then they called me.
I suggested they get a building inspection done on their house to make sure there were no surprise issues. But given the time frames, and the fact they'd already purchased, the couple decided it probably wasn't worth it. And at the time I tended to agree.
Anyway, there was a tonne of interest in their property, and it looked like a premium price would be achieved come auction day.
A few days before the auction, people started getting building inspections done — and that's when things went pear-shaped.
It turned out there was a cladding issue in one small area of the house. A very contained issue - once fixed there was no risk to the rest of the house, but an issue all the same.
And all the potential purchasers bailed.
So, the best option was for my clients to withdraw the house from the market and fix up the problem themselves. But this would take months rather than weeks. Now they found themselves with an expensive repair bill and accidentally owning two homes.
With the benefit of hindsight
"We learnt something from this experience, Rodney. Next time, before we even start looking at houses to buy, we're getting a building report done on our place" wise words from my client.
It's a worthwhile investment to get a building report done on your own home BEFORE you list (and definitely before you buy another house!)
The last thing that you want is to have your deal fall through because of an unknown problem that's uncovered by a buyer's building report.
This is especially true if it is a minor problem and could easily have been repaired ahead of time — if only you had known about it.
Rodney Fong is a Licensed Salesperson and Auctioneer working with clients throughout Tauranga, Mt Maunganui and Papamoa.< Back to Blog Articles