Let's get to the heart of this page, and probably also your question: When do you need a building report? Do you have the building inspection carried out before submitting an offer? Or after submitting an offer? As mentioned, it varies depending on the context. But given the current housing market, having a building inspection, and thus receiving a building report, before submitting an offer is nearly impossible. Unless, of course, you're looking at a different segment of property than the average family home. After all, there are so many competitors for the house you'd like to buy that there's little time to waste.
Good. Ideally, you should have your potential home inspected before submitting an offer. The report's findings will allow you to make a well-considered offer. If this isn't practical, which is often the case, the inspection should be conducted during the negotiations.
"But then I'll be too late, won't I?" you might wonder. Fortunately, there are suitable solutions for that. It's certainly possible to submit an offer and even sign a preliminary purchase agreement before the property has been inspected. However, it's important to include contingencies in the preliminary purchase agreement.
