December, 2007 
 
A pre-purchase inspection is an exercise in 'due diligence', ensuring that the investment the buyer is making is a sound one.  These inspections are carried out by a qualified building inspector who prepares a report on the structural integrity of the property in question.

From 1 January 2004, only building consultants licensed under the Home Building Act 1989are permitted to carry out pre-purchase inspections of residential properties in New South Wales. Other inspections, e.g. pest inspections, do not require a licensed practitioner. However it is vital to have pest and electrical wiring inspections made prior to purchase.

What is a final inspection?

 The final inspection is most often made before, or on the day of, settlement, a final inspection is used to ensure that the property is in the condition that is described in the contract and that all inclusions have been made.

What happens if problems are not found?

If the licensed consultant was negligent in doing the inspection, or did not identify problems with a property during an inspection, you may be able to take legal action against them. Seek further legal advice if you are unhappy with the results or outcome of an inspection. 

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