In South Australia, you have a 48-hour cooling-off period from the time you receive your Form 1. This means that you can cancel the purchase of the property within 48 hours without any penalty. It is generally considered best practice to get a building and pest inspection done during this time. This will allow you to identify any potential problems with the property, such as defects or termites. This will give you peace of mind and allow you to make an informed decision about whether to proceed with the purchase.
Here are some of the things that a building and pest inspection can look for:
- Structural defects
- Rising damp
- Termite damage
- Uneven out of square doors, walls and floors
- Roof damage
- Foundation problems
- Slab edge dampness
- Leaking showers
- Conducive areas and much more
If you are considering purchasing a property in South Australia, it is important to be aware of your cooling-off period and to get a building and pest inspection done during this time. If it’s not a condition in your contract. This will help you to avoid any costly surprises down the road.