What is a Pre-Purchase Inspection For a House?
What is a pre-purchase building inspection for a house? Is it really necessary to have a pre-purchase inspection? A pre-purchase building inspection in Melbourne can be defined as an inspection that the buyer will pay for prior to closing the deal. This is considered necessary because the house must be free of any defects which may cause financial harm or even damage to the buyer. This form of inspection is also done by the lender so that if there is something wrong with the property, the borrower will be fully liable for the damages caused during the time of the mortgage. The lender usually does not have an inspection process, but they have a "Home Buyer's Inspection" which is basically an inspection that is given to the buyer before the closing date. This helps the lender to identify any major problems with the house that they would have had to disclose at the time of the mortgage. Even though this kind of inspection does not cover the entire house, it gives the buyer...