How Building Inspections Promote Transparency
Building an honest relationship with the many people involved in the construction process goes a long way. By being as transparent as possible with local authorities, with your potential clients and buyers, or with your construction employees, gives you the benefit of good faith.
One of the best ways to promote transparency is to invest in building inspections.
How can a building inspection promote transparency?
It’s easy to be fooled by a great location, coupled with soft lighting and great décor. A building inspection is an objective process conducted independently and without bias by a third-party expert. As building inspections are conducted independently, it adds an element of honesty and transparency to a transaction.
Here are some of the ways a building inspection promotes transparency.
1. Provides information to both buyer and seller
Before building inspections became a norm in property sale transactions, many buyers had been tricked by the beautiful exterior of a home. Any property seller with malicious intent can cover up defects, wet stains, and signs of infestation with some paint or boards right before a property visit takes place. The buyer ends up with a property that’s way below the value they paid for, on top of being dangerous.
In some instances, a buyer may feel ecstatic about an incredibly cheap home or building, only to find out that it’s been hiding a lot of defects and safety hazards.
A building inspection promotes information transparency between the buyer and seller. Because the buyer can demand to see an inspection building report or to have one conducted, the seller can’t hide any more defects or hazards existing in the property.
2. Clarifies points in the negotiation and contract of sale
Different buyers and sellers can negotiate their own favourable terms when it comes to a property with existing building defects. For example, a buyer can demand the seller to conduct all repairs or additional assessments before he executes the sale. On the other hand, a different buyer can negotiate for a lower property price in exchange for taking responsibility for all repairs. You can use the information from a building inspector’s report to properly negotiate for the right price.
In a different scenario without a building inspection, this kind of transparent negotiation won’t take place. A building inspection report with a detailed list of recommended repairs and maintenance work is a great tool to make negotiations more transparent and favourable for both parties.
3. Strengthens the landlord-tenant relationship
If you’re paying rent every year for your apartment or house, you have the right to know more about the condition of the building you stay in. Likewise, landlords must be as transparent as possible to their tenants.
A building inspection report empowers landlords and tenants to be honest in their negotiation for lease. Aside from this, a building inspection report can also guide discussions on liability, in cases when there is a dispute over who caused a particular defect or hazard to happen. Specifically, building inspection companies offer disputes resolution inspections and reports to assist in any settlement or negotiation issues.
4. Gives customers peace of mind
For establishments serving food, entertainment or other services, building inspection reports provide assurance to customers. People don’t want to go into a building where they can be exposed to dangerous substances, injured by major or minor hazards, or trapped thanks to poor planning.
Through a building inspection, a property owner can regularly check if the building is compliant with current building codes. Having a recent building inspection report and a separate certification of compliance on hand can give both property owners and their customers’ peace of mind.
What does transparency mean for you?
Having transparent transactions based on clear and objective data leads to other benefits.
- Better financial investment – Buying a home or a building is no small feat. Thanks to the power of building inspection reports on the negotiation table, you’ll end up with a better financial investment as a buyer of a new home or building.
- Increased safety and security – A surprise defect or safety hazard is something we all should avoid. With increased transparency, you’ll be prepared to meet these hazards head-on. You can hire or contract services for repair and maintenance.
- More informed planning – With a detailed inspection report containing recommendations, you are now more informed about which repair specialists to approach. If the property has building code violations, you can plan for compliance and re-certification.
Contact EBI for Professional Newcastle Building Inspections
Exceptional Building Inspections believes in objective, independent and unbiased reporting on your home or building’s status, any safety hazards, minor defects, major defects, and points of concern for maintenance. With over 30 years of experience in the building industry, our expert building consultant knows the type of information you are looking for.
Get the benefits of more transparent negotiations and transactions with a professional building inspection report. Contact EBI today!