The importance of a home inspection
Imagine what can happen if you don’t have a house inspection as protection when you buy a new home. Defects you didn’t notice and latent defects like a roof leak can cause your dream home to become a nightmare!
A Buyers House Inspection or Pre-purchase Comprehensive Property Inspection
Be wise, have a home inspection!
A buyer’s house inspection is your protection against the ‘voetstoots’ clause. A Buyer’s Inspection report is a written account, with photos, of the condition of the property. As a result, it will tell you about any significant building defects or problems. This can be defects such as rising damp, movement in the walls (cracking), safety hazards or a faulty roof etc. You would have this done as part of your condition of the sale so you can identify any problems with the property which, if left unchecked, could prove costly to repair.
Why do you have a house inspection?
- Protection against the voetstoots clause in your Offer to Purchase
- You will know in advance what the problems are.
- Therefore, you may be able to negotiate a lower price for the property. You may have to pay to repair some of the problems.
- You also get specialist advice about any major problems and maintenance issues which may affect the property over time.
Inspected Once, Inspected Right!®
The Infamous Voetstoots Clause
A voetstoots clause could be disastrous!
Most second-hand property sales are subject to the voetstoots clause.
When home hunting, most home buyers tend to be so excited that they give no thought to a closer inspection. Before you know you have signed the agreement and the property is yours. But what about all those defects you didn’t see during your first or even second visit.
Although it’s the law that home sellers have to disclose defects, it’s amazing what a coat of paint will hide. You will only start noticing problems six months down the line – when it’s too late for recourse.
Buyers who only complain of defects some months after the transfer has taken place occasionally exasperate sellers and Estate Agents.Continue reading “How The Voetstoots Clause Affects Your Home Purchase”
There are also various versions of “Sellers Property Condition Disclosure” statements in use by estate agents. The Estate Agency Affairs Board (EAAB) prepared one of the disclosure forms. Another by a prominent firm of conveyancing attorneys. Some “Offer To Purchase” contracts include the seller’s disclosure towards the back of the contract. None do much to make the average property transaction any fairer for the buyer.
These disclosure statements often don’t provide the buyer with genuinely comprehensive information on the true condition of the property. Such agreements often simply shift responsibility away from the estate agent and onto the seller. Continue reading “Is a Seller’s Disclosure worth the paper it’s written on?”