Perth Legal Property & Settlements knows buying a home is more than just finding your dream space; it’s about ensuring your investment is safe from hidden problems, especially when it comes to the building’s structure. Our user-friendly guide is here to walk you through avoiding potential pitfalls in the property buying process, focusing on those sneaky structural issues that can turn your dream home into a financial nightmare.
What is a Structural Special Condition?
Think of a structural special condition like a safety net when buying a home. Without it, you could unintentionally buy a property with major hidden damage, costing you a lot more than expected. This condition is a part of the contract that allows you to back out if a professional inspection finds significant structural problems, such as issues with the foundation or walls.
Not every crack or creak is a deal-breaker, but big problems that affect the building’s strength and safety are what this condition aims to protect you from.
How to Make Sure You’re Protected
It’s all about the timing and taking the right steps if an inspection uncovers big structural flaws. If this happens, you need to quickly notify the seller within a set period, usually a few days. Then it’s up to the seller to fix these issues. Most of the time, these problems get fixed, but if they’re not handled properly, you might need to walk away from the deal or seek further action, ensuring you’re not left with the bill for these repairs.
Before you officially take over the property, doing a final walkthrough check is crucial. Ideally, bring along a couple of trusted witnesses. This last check ensures everything promised was taken care of. If there are still issues, you’ve got one last chance to ask for fixes before moving forward or considering other steps, possibly legal ones, if needed.
Choosing the Right Safety Net
Having a solid structural special condition in your contract is like having a detailed map; it spells out exactly what to do and expect throughout the buying process. Make sure this section of your contract is clear about what qualifies as a significant structural issue, how to document any problems found, and the specific steps you need to take if issues are discovered.
By setting up this safety net, you’re not just moving towards buying a property; you’re making a well-informed, secure investment. Whether you’re stepping into the property market for the first time or you’re an experienced buyer, protecting your purchase from hidden structural damage is crucial. Our guide is designed to help you do just that, ensuring your home-buying adventure is both exciting and secure.
For more information, please contact us today.