When do I need to arrange a Building and Pest Inspection?

It is important to arrange your Building and Pest Inspections early in the purchasing process. This will allow time to consider the findings of the report and make further enquiries and negotiations if necessary.

When do I need to arrange a Building and Pest Inspection?

There are 3 key times you should consider engaging a building and pest inspector –

• During the cooling-off period after signing the property contract,
• During an agreed upon inspection period if your contract is subject to a satisfactory building and pest inspection, or
• Prior to selling your home

Building and Pest Inspections During a Cooling-Off Period

There is a cooling off period of 3 clear business days from the date you sign contracts when purchasing a home in a private sale in Victoria.

Although this gives you a small window to arrange a building and pest inspection, let the team at Venatic know your intentions to utilise this cooling off period and we will make every effort to have your inspection scheduled accordingly. Venatic guarantee you will receive your report report within 24 hours of inspection, often on the day of inspection.

You shall receive a full refund of any money paid less $100 or 0.2% of the purchase price if you decide to pull out of the contract in this period.

Contract Subject to Satisfactory Building and Pest Inspection

Before you sign your contract, ensure it is subject to a satisfactory building and pest inspection. You may renegotiate or pull out of your contract if you are unsatisfied with the findings of your report.

The cooling-off period only allows a very short period of time to obtain and assess a report. Ensure the contract allows a 14-day inspection timeframe to allow time to obtain your report, follow up with any quotes for issues which may arise from the report and consider if re-negotiation of the property price or even pulling out of the contract is appropriate. In this instance, it is a good idea to work closely with your conveyancer.

Building and Pest Inspection Prior to Selling

Building and pest inspections are not only beneficial when purchasing a home. When selling your investment, it is beneficial to be proactive and arrange a pre-sale building and pest inspection.

A Venatic Pre-Sale Building and Pest Inspection will follow the same format as a pre-purchase inspection. This will give you as a seller insight on what prospective purchasers may come across and give the opportunity to rectify any issues before putting your home on the market. A positive building and pest inspection report makes great marketing material for your home, providing potential purchasers more confidence in placing an offer.