Understanding Pre-Purchase Inspections
A pre-purchase inspection, which may be abbreviated as PPI, is the evaluation of a property before purchase; a service needed when purchasing a vehicle or house. Here's what you need to know about these services and how they benefit you.
The Purpose of Pre-Purchase Inspections
They mainly help identify any physical problems with the property of concern. For example, if the property in question is a house, the evaluator needs to check for structural damage. You do not want to buy a house whose structural integrity or stability is unstable. This means that it might come crumbling down in the future. Additionally, you don't want to buy an expensive house and later find out it needs some costly construction repair work. The evaluator should identify such faults and highlight them in the evaluation report. You can then make a case to buy the house cheaper or back away from the purchase.
Another example can be when purchasing a vehicle, especially second-hand vehicles. Hire a pre-purchase inspection company that specialises in vehicles of the particular make and model you want to purchase. The evaluators will do a thorough job of inspecting the vehicle and even taking it on a road test. Since they specialise in that particular make and model, the evaluators will know what to look for; you are guaranteed to buy a vehicle that will serve you a long time and at the right price.
Choosing a Pre-Purchase Inspection Company
Ensure that the company evaluating the property has no affiliation or partnership with the seller; you want an unbiased and genuine pre-purchase inspection report. To guarantee this, hire registered and licensed evaluators; the licensing bodies ensure that the pre-purchase inspection companies meet all the requirements before they are allowed to conduct business.
How Much Does a Pre-Purchase Inspection Cost?
This depends on the property being inspected. If it is a house, how large is it? The bigger it is, the more the work, thus the higher the fee. You should, however, not consider this as an expense, but an investment. You get to buy the house at the correct (lower) price and avoid encountering expensive problems in the future.
If the inspection is being carried out on a vehicle, the cost might not be high. However, if it is a technical vehicle like a heavy construction vehicle that has multiple applications, the inspection cost might be slightly higher.
For more information, contact a local pre-purchase inspection service.