STRATEGIES
Defects and Inspections
The importance of a thorough property inspection
BY DREW HOOK
P
roperty inspectors are vital for investors who
are either looking to renovate and sell or who
are planning on purchasing property to hold
over a long term. An estate agent is not required by
any regulation or code of conduct to actively uncover
any defects within a property but is expected to
undergo a visual inspection and bring to attention
any obvious defects. The responsibility for an in depth
inspection lies at the feet of the property investor.
Home inspections will vary depending on the type
of property you are purchasing. A large historic
home, for example, will require a more specialized
inspection than a small condominium.
Property inspectors are vital for
investors who are either looking
to renovate and sell or who are
planning on purchasing property
to hold over a long term.
Patent defects are those that are clearly visible
to anyone inspecting the property, such as cracked
walls or broken windows. Latent defects are either
14
Residential Handbook 2015
not visible or discoverable during a brief visual
tour of the property, but which will substantially
impair the use of the property. Sellers are liable for
latent defects that exist at the time of the sale, even
if they had no knowledge of them. Which in turn
means that a buyer can cancel a contract or claim
part of the purchase price back based on a latent
defect discovered after the purchase of the property.
However most sellers contract out of this liability
by including the ‘voetstoots’ (as is) clause in the sale
contract, which means that any defects uncovered
after the sale are the buyer’s problem.
A typical home inspection should include a
careful check of a house’s structural and mechanical
condition as well as any specific requests requested
by the buyer. The ten critical areas for inspection
during the process are the structure, exterior, roofing
system, plumbing system, electrical system, heating
system, air conditioning system, interior, insulation
and ventilation, and fireplaces.
Once the home inspection has been completed,
a report is created for the buyer detailing any and
all defects found. This report will note problems
requiring immediate attention and conditions that
could lead to more serious issues over time.
The following are the basic elements that a home
inspector will check. You can also use this list to help
you evaluate properties you might purchase.
www.reimag.co.za