If luxury homes in Australia are on a whole other level in terms of features and sizes, so is the need for property inspections.
A high-end home inspection becomes more complicated when considering government regulations. Here’s what each government in six Australian cities says when arranging a luxury property inspection.
In South Australian, the government requires property sellers to provide a buyer’s information notice as part of the transaction.
Adelaide, South Australia
The South Australian government requires property sellers to provide a buyer’s information notice as part of the transaction. Luxury homeowners in Adelaide should also obtain the same notice to guide them before and during an inspection.
The buyer’s information notice addresses questions under three categories: enjoyment, safety and value. If you plan to rent out a luxury home in Adelaide, you can only inspect the property once every month.
The South Australian government also requires landlords to provide tenants with written notice at least seven days before the inspection date. Take note that inspections can only last for up to two hours.
IIn Queensland, swimming-pool inspectors must hold a license from the Queensland Building and Construction Commission.
Brisbane, Queensland
While you can arrange a building and pest inspection at once, different licensed inspectors will be necessary for swimming pools and installed solar panels.
Swimming-pool inspectors must hold a license from the Queensland Building and Construction Commission. A licensed electrician or a Clean Energy Council-accredited professional can inspect solar panel systems in a luxury home.
The Queensland government also advises luxury property buyers to inspect the property at least two days before settling.
Luxury property buyers in Canberra can arrange a pre-settlement inspection as early as one week before the settlement day.
Canberra, Australian Capital Territory (ACT)
Luxury property buyers in Canberra can arrange a pre-settlement inspection as early as one week before the settlement day. You can request a different timeline, although the ACT government recommends inspections be discussed with the property agent or seller before scheduling one.
Buyers should also note that “the condition at settlement is subject to ‘fair wear and tear’”, according to the ACT government.
Once you exchange contracts with the seller, you should insure the property before doing anything else. In general, the ACT government also said that luxury property buyers are potentially responsible for accidental damages after an exchange of contracts.
Avoid risk by searching for a qualified and licensed inspector through the Victorian Building Authority.
Melbourne, Victoria
Consumer Affairs Victoria offers a due diligence checklist for a comprehensive property inspection. Remember that you may be responsible for illegal additions or alterations to a luxury property after signing a contract of sale.
You can avoid this risk by looking for a qualified and licensed inspector from the Victorian Building Authority. The state government also requires the seller to inform you if a property is in a bushfire-prone location. Check out Victoria’s different resources for verifying land and property titles.
If you plan to inspect a high-end apartment in Melbourne or a luxury house in Toorak, be prepared to show proof of your identity and contact details. The state government allows sellers to impose this security measure as a condition before buyers can enter the property.
In Perth, luxury property inspections should include full professional indemnity insurance.
Perth, Western Australia
Luxury property inspections in Perth should include full professional indemnity insurance. The Western Australian government recommends this for your protection, in case an inspector overlooks a problem that needs repairs.
Buyers should also find out if sellers had council approval for any building work done on the property within the last 10 years. You can either do this by asking for a written response from the agent or directly contacting the local council. Refer to the state government’s inspection checklist for a detailed guide.
The New South Wales government requires agents to disclose previous property inspection reports once you ask for a contract of sale.
Sydney, New South Wales
The New South Wales government requires agents to disclose previous property inspection reports once you ask for a contract of sale. You might even pay less to repurchase an old inspection report by negotiating the price. Keep in mind that most professionals in Sydney need at least two days of notice before inspecting a property.
The state government also provides buyers with a cooling-off period as an added layer of protection. If an inspection occurs after an exchange of contracts, you can withdraw from the deal once you discover problems within the cooling-off period.
This period lasts for five business days immediately after you exchange contracts with the seller. You must send a written notice by 5 p.m. on the fifth business day if you change your mind about buying the property.
If you’re buying a harbourfront home or a grand estate in Sydney as an investment, check out the state government’s advice for buying investment properties.
