Building Reports from Before you Bid: Everything Buyers need to know

What is the difference between a building and pest report and strata report?
A building and pest report focuses on the structural and pest-related aspects of a property, evaluating its condition and potential issues through a visual, on-site inspection. On the other hand, a strata report delves into the collective ownership and financial health of a property within a strata scheme, providing insights into the shared responsibilities, bylaws, and the overall well-being of the strata community (completed via records made available from the strata manager). While a building and pest report safeguards against individual property concerns, a strata report ensures a comprehensive understanding of the communal aspects in a multi-unit setting. 

Where does Before you Bid operate? 
Before you Bid operates everywhere in Australia except for the ACT.

What inspectors do Before you Bid have on their inspector panel?
Before you Bid has over 250 independent inspectors covering Building & Pest, Strata and Pool inspections. They pride themselves on having high-quality inspectors who are all insured and are held accountable by a rating system.

How do I know that the reports are independent? 
Before you Bid inspectors are independent from Before you Bid, independent from real estate agents, and independent from sellers. 

Before you bid pair you up with a qualified inspector in your area. The advantages of their model are that:

  1. Before you Bid only maintain high-quality inspectors on their panel and ensure that each has their own insurance, which you can rely on if the need arises, and
  2. Before you Bid keep the costs down. 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. 

If I have questions specific to my building and pest inspect report from Before you Bid, who can I ask to get more clarity? How do I reach them?
Once you receive your report you will be provided with an opportunity to email the inspector with any queries that you have. 

What do I do if there are defects in the property? 
Almost all properties have “defects”. Before you Bid 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 or make an offer and factor these costs into the price they’re willing to pay. If you can live with the issues identified in the report, then you can bid with confidence or submit a formal offer.

When do I make payment? 
Following your request, you will receive an email from Before you Bid requesting payment. Click on this, then you will be directed to the website to complete the payment for your order to be successful. 

Will I be charged a “second charge” if I am successful buying the property?
Before you Bid 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 for insurance purposes. 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.

How long does it take to get my report? 
The estimated delivery time by Before you Bid is typically between 2 to 4 days after the payment has been successfully processed. If you haven't received your report by then, please refer to the Before you Bid contact details provided below.

Phone: 1300 253 761

Once I understand my report, how can I leverage the content in my property transaction?
As a buyer, understanding and leveraging the report from Before you Bid is crucial for making informed decisions and optimising your property transaction:

1. Negotiation Power: Armed with a comprehensive report, you gain valuable insights into the property's condition. Use this information during negotiations to negotiate a fair price, especially if there are identified issues that may require attention or repairs.

2. Risk Mitigation: Identify potential risks and issues early on. The report allows you to make an informed decision about whether to proceed with the purchase, negotiate terms, or request necessary repairs, helping you avoid unexpected costs down the line.

3. Transparent Communication: The report provides a transparent overview of the property's status. Use this information to communicate openly with the seller, demonstrating your seriousness as a buyer and potentially building trust in the process.

4. Informed Decision-Making: The report equips you with a deep understanding of the property's strengths and weaknesses. This knowledge enables you to make well-informed decisions, ensuring that you're comfortable and confident with your investment.

5. Speedier Transaction: A buyer with a clear understanding of the property is likely to move through the transaction process more smoothly. By addressing potential concerns upfront, you contribute to a faster and more efficient closing.

6. Professional Guidance: Collaborate with your real estate agent and other professionals using the report. Seek advice on how to use the information strategically in negotiations and decision making.

By leveraging the Before you Bid report, you position yourself as a knowledgeable and informed buyer, enhancing your ability to navigate the transaction with confidence and securing a property that aligns with your expectations.

If you would like to find out more information about our partner Before you Bid, please request a call back from our Property Coaches here.

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