Are you considering purchasing a property on the Sunshine Coast? Whether it is your PPOR (primary place of residence) or an IP (investment property) then you will need to get a Pre-purchase Pest Inspection for termites.
What type of Pre-purchase Pest Inspection?
Termites. All the other pests don’t have the ability to cause structural damage and are relatively easy and inexpensive to treat. Other pests typically don’t alter the value of the home whereas active termites can reduce the value of a home by a lot, not to mention a potential hefty repair bill.
Why do I have to get a Pre-purchase Pest Inspection?
There’s no law anywhere in Australia let alone the Sunshine Coast stipulating you have to get one but it would be foolish not to. If you’re going to spend hundreds of thousands of dollars on a property then a few hundred dollars to make sure there’s no a huge repair bill waiting for you is a negligible expense. Most consider it a standard cost of purchasing property.
The risk of a termite infestation on the Sunshine Coast and anywhere near coastal mainland Australia is high. Any time you purchase property on the Australian mainland, the risk of having active termites on the lot, active termites in the actual home, or past termite damage is not remote. There’s more than a reasonable chance.
There’s a threefold cost of buying a property that has active termites in it; Firstly there’s the cost of having a pest control expert come out and determine the extent of the damage. Where are they? Where is the nest? Will cosmetic repairs be needed or structural repairs? The second cost is the actual repairs. If it’s just cosmetic then repairs should be reasonably cheap, however if the damage is structural you’re look at some hefty repair bills. The third cost associated with termite damage is the reduction in value of your property. If you’ve bought it without a pre-purchase pest inspection then it’s likely the property is not worth as much as you paid for it. Even after you fix the damage, it will turn up in reports when you later sell the property which will also reduce the value and hence your selling price.
When do I get a Pre-purchase Pest Inspection?
It depends if you buying via private treaty or auction.
- If you’re buying by private treaty – (the most common way to buy a house in Australia) you will need to make an offer. In your offer you need to add a clause that the offer is subject to a pest inspection. There’s a space provisioned for conditions in a standard REIQ Contract for Houses and Residential Land. You need to add this clause inside this section. If your offer is accepted you have a cooling off period of 5 days. Within this time span you should organise a pre-purchase pest inspection.
- If you are buying through an auction – you will need to organise a pest inspection before you attend the auction. In an auction, as soon as the property is sold there is no cooling off period. You want to make sure you get termite inspections at any property you intend to bid on.
If you’re looking to purchase a house or investment property and would like to get a pre-purchase pest inspection then contact the team at Sunshine Coast Pest. You can call us direct or fill out our QUOTE REQUEST form.