You’ve found your dream home or the perfect location for your business; you’ve had a look around and everything looks good. While you may be keen to sign on the dotted line and move in straight away, keep in mind that property inspection is an important part of the process and should not be left out. It often falls onto the purchaser/tenant to initiate this if the seller/landlord does not. While it does take some time and cost money, the amount you save and the peace of mind it provides prove to be invaluable. We spoke to Douglas Ralph of Snag & Inspect about how an inspection can help you.
Property inspection means protection
As you would with any other investments, buying a home is a big commitment; thus, it is only wise to learn all that you can about the property you wish to purchase before you hand over the money to ensure maximum value. An independent and professional inspection involves an accurate assessment of the conditions and status of the property prior to handover, allowing you to see existing problems, resolve issues, and help foresee and manage future costs.
As one of the top emerging markets in the Middle East, Dubai’s rate of progress and development over the past decade is impressive. With the construction boom and rush for completion come inattention to detail and inconsistent workmanship practices. The employment of low-skilled laborers to meet the requirements of fastpaced construction has led to compromised building quality posing fire, life, health and safety hazards.
An inspection conducted by an independent and professional inspection company with highly specialized technology can prevent such inconsistencies by bringing to light unknown problems in residential and commercial properties, which can be missed out by an untrained eye or any engineering firm not specializing in the inspection practice.
Therefore, it is exceptionally wise to make the small investment in property inspection to reach an informed decision about the value of the property and its future maintenance. The cost of an inspection will generally pay for itself many times over by catching a problem earlier than later.
Essential inspections to be carried out
New properties need to undergo a handover inspection which includes a comprehensive and detailed report of their condition, which is an extremely valuable service for any purchaser when preparing to accept handover.
The warranty defects inspection is designed to identify any outstanding defects subject to remedial action within the one year warranty/defect liability period. The contractor or developer may be responsible for repairing some items within the first year, which helps prevent your wallet from draining due to costly repairs.
A resale inspection should be conducted when a property is resold, which is usually initiated by the purchaser. Like a handover inspection, it should be completed prior to closing the deal to assess the condition of the property as well as its maintainability. If you are a tenant or a renter, a condition inspection of the property before moving in is highly recommended. This allows you to discover defects and hidden problems that can endanger your family and loved ones.
The move-in inspection report by a third party inspection company allows you to have a documented proof of the overall condition and the assets of the property which will be a critical reference when you move out of the property as this will serve as your protection from any false claims on the condition that your landlord may instigate.
In addition, management companies now require an audit/assessment of their accredited maintenance companies three times a year. This is used to evaluate their performance in terms of agreed deliverables while increasing the quality of maintenance and reducing operating costs in the long run.