WorldExecutivesDigest | Everything You Need To Know About A Dilapidation Report | If you are buying a property, selling it, or have simply owned it for a long period of time, then you should have a dilapidation report completed. It sounds sinister but it really is designed to help you.
In a nutshell, the dilapidation report is designed to tell you what condition the property is in, specifically what damage there is. This will allow you to decide whether repairs are worthwhile. It can even help you to renegotiate a price if you are looking to buy a property.
Why the report Is So Important
Anyone selling a property should advise you of any known faults, allowing you to make an informed purchase decision. If they don’t then the building and construction industry security of payment act can be used by both the builder and the purchaser to ensure high-quality work is completed and that the appropriate payment has been made.
The report is an integral part of either claim as it confirms the condition of the property.
Of course, a dilapidation report can also help with understanding the condition of a property before you purchase. This can be instrumental to your purchase decision and any negotiations.
What’s Included In The Dilapidation Report?
The dilapidation report is a visual inspection of the property by a qualified and experienced professional. It should be noted that the inspector cannot damage the property on the inside or outside. That means it is difficult to confirm the condition of any parts that are not visible, such as wood under the floor or in the walls.
However, with the right equipment, such as damp meters and instruments to detect cracks, a lot can be discovered about a building, even if it looks perfect.
The report will detail any visual faults, what areas could not be checked, and any potential issues that have been noted but may need further investigation. It will then be up to you to decide if you wish to proceed and purchase the property.
It should be noted that dilapidation reports are often done on properties that have just been finished and passed to their new owners. This confirms the property is completed to standard. It can also help the buyer and the seller deal with complaints from the other party. A dilapidation report is respected in court as an official document, making it easier for a ruling to be given when necessary.
Who Should Have A Dilapidation Report Completed?
If you are purchasing an old property then you need a report of some description to ensure you are aware of potential issues and how to deal with them. It can be extremely beneficial.
You will also need a dilapidation report if you are having a disagreement with your builder and have refused to pay their bill within the given timescale. A dilapidation report will back up your reason for non-payment or confirm that you need to settle. It‘s an effective way of avoiding court for both parties as the report has been undertaken by an independent professional.
WorldExecutivesDigest | Everything You Need To Know About A Dilapidation Report