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Before You Buy - For Buyers
For most people, buying a property is the biggest financial decision of their life.
There are real risks involved – you could buy a “lemon” and be left paying thousands to fix a property that was hiding significant issues.
At BYB, we have a panel of independent inspectors that can help you with your property due diligence. We also have a cash back model to ensure that you don’t waste money when looking at properties that you don’t end up buying.
the more savings you get to enjoy!
We create a share economy for the costs that are
necessary for all potential buyers
Our Services
Building & Pest Inspection Report
For many property buyers, the reasons for buying a Building and Pest Inspection report are obvious – you want to know as much as you can about what costly defects there might be to bring the property into an acceptable (and sometimes legal) condition.
For further reading, visit the NSW, VIC, QLD or WA Government websites.
Strata Report
Don’t get caught out when purchasing a strata property – you need to take into account the financial state of the body corporate as well as proposed strata expenditure, defects, insurances, rules (e.g. pets) and disputes
View a strata report
Our strata report includes either a report on the Strata Scheme, Company Title, Community Association, Neighbourhood Association or Deposited Plan depending on the property
Frequently Asked Questions (FAQs)
1. How do I know that the reports are independent?
Our inspectors are independent – independent from us, independent from real estate agent, and independent from sellers.
At BYB, we pair you up with a qualified inspector in your area. The advantages of our model is that (1) we keep the costs down, and (2) we only maintain high-quality inspectors on our panel and ensure that each has their own insurance, which you can rely on if the need arises. If a report is already available, you can be assured that the inspector has appropriate insurance, and can receive feedback from other buyers like you.
2. What do I do if there are “defects” in a property that I want to buy?
Almost all properties have “defects”. BYB reports can help you identify the issues that you should be aware of before purchasing the property. Some interested buyers will get rough quotes from tradesmen on potential improvements before they bid and factor these costs into their bidding. If you can live with the issues identified in the report, then you can bid with confidence.
If you purchase a property and find a defect that should have been picked up by the inspector at the time of the inspection, you may be able to claim against the inspector’s insurance. See more information here.
3. Will I be charged a “second charge” if I am successful buying the property?
BYB has a range of different report share-cost models. In some models, the successful buyer will be charged a balance payment if they or someone they purchased the report on behalf of are successful buyers of the property, and will then have the report transferred into their name to be relied upon. For these models, if you miss out on the property you will only pay a fraction of the cost of the report. And if you get the property – congratulations! – the report will be transferred to you in your name for future use and insurance.
Contact Us
If you have questions that are not covered above, please contact us. To place an order, simply enter the address into the search field above.
