Property inspection 101
Professional property inspection is an important aspect when you want to buy, sell or simply maintain the value of your property. Here are some key things you need to know:
What is a property inspection?
A property inspection is a detailed report on the condition and safety of a property and highlights areas that need maintenance or don’t adhere to building standards. A property inspection is conducted by an independent property inspector.
The purpose of the report is to capture and provide an estimated cost of repairs for any defects that exist on a property. This can include:
- Water damage
- Electrical issues
- Drainage and plumbing problems
- Gutters and roof issues
- Foundation flaws
- General maintenance problems, such as having to repaint or recarpet
The Property Practitioners Act 22 of 2019
In terms of the Property Practitioners Act (PPA), an estate agent owes a potential buyer full and transparent disclosure of the state of a property to ensure they can make an informed buying decision.
The duty of disclosure, however, rests with the seller and not the estate agent.
Why should I do a property inspection when buying a home?
- You get a comprehensive understanding of the condition of the property you’re buying
- You can avoid unexpected costs for repairs
- You can negotiate a lower purchase price and ensure that you do not pay more than what the property is worth
Why should I do a property inspection when selling my home?
- To help determine the best price for your home
- You can increase the value of your home by doing repairs before putting it on the market
- To help you compile a list of defects to include in your voluntary disclosure to avoid potential liabilities that could arise from non-disclosure
Why should I do a property inspection if I’m an existing homeowner?
- To get a detailed view of the current state of your property
- To identify issues and make repairs before more damage occurs
- To ensure that occupants are not living in hazardous conditions
- To ensure that you are protected by your home insurance policy
- To identify any maintenance issues that may affect a home insurance claim if ignored