Pre-purchase property inspection:
Why do I need a Pre-Purchase Property Inspection?
- Your mortgage provider may request that a pre-purchase property inspection is completed on the house you are buying prior to giving mortgage approval. Your Solicitor will refer you to the legal rule of “caveat emptor” (or “buyer beware”) which applies to sales of buildings.
- Almost every property will have some defects, some of which could be serious. It would be important to have the property checked out as thoroughly as is possible to allow a purchaser to make an informed decision on whether to purchase the property or not.
- A pre-purchase property inspection provides a purchaser with an opportunity to have any concerns they have about the property checked by their Engineer.
- A pre-purchase property inspection reviews the property from a Planning and Building Regulations aspect i.e. the Engineer provides his opinion on any potential Planning and Building Regulations compliance issues with the property.
- A pre-purchase property inspection allows for a boundary review to be completed (if required) as part of the pre-purchase property inspection i.e. the Engineer compares the physical boundaries of the property against the boundaries outlined on the Folio map for the property. The Folio map is provided by the vendor as part of the contract and title and confirms the extent of the lands being sold to the purchaser.
See the sample report on our website for further information on some of the areas inspected in a property as part of a pre-purchase property inspection.