Why do cash buyers in Algarve need a property inspection?

A home inspection is a great tool for the entire housing industry in real estate business.  Whilst a home survey is mandatory for anyone taking finance to purchase a property, cash buyers should also consider this, particularly for properties being older.

BUYERS

With the current boom in Algarve real estate and escalating prices, your search for your ideal property, might cause you to offer on your chosen property faster than usual to secure it. But you should always consider your own check-up or invest into a professional neutral inspection. 

• Plumbing, check under sinks for leaks or rust and other pipes and joints
• Run the taps to check the water pressure and check plugholes and drains for blockages or the speed of water run-off
• Electrical, power lines and power capacity check the fuse box, wiring, sockets, and switches. If it was rewired – when?
• Walls and floors, (inside and outside) is there a smell of damp, can you see mould, damp, cracks, or leaks? Check the roof and ceilings, insulation
• Check the water and heating system
• Pools look at any hoses, filters, drains, cracks in the tiles in and around.

VENDORS

Vendors currently have the upper hand in the fast-moving Algarve property market, but buyers still want assurances that they are investing in property that doesn’t have any hidden issues.

• Let you fix or make allowance for items which could negatively affect asking price
• Lessen the risk of surprises that could delay or halt a sale
• Give full transparency to the buyer and the agent – also with inspection reports

If you can’t justify the expense of a survey before you put your property on the market, then we have some DIY suggestions:

• Declutter your house and try to store or pre-pack items (that would have to be done anyway) in advance, so that your property looks clean and tidy. This is also a huge help to the real estate agent for photography and video and makes things much more presentable for viewings
• Run through a similar checklist to the buyer, looking for issues that they are likely to pick up on or ask questions about. If you’ve had something serviced, replaced, or repaired having receipts/invoices, guarantees can also help during the process of negotiation

You can choose on the kind of survey; structural or just specific inspections, such as wiring, roof, or pool and equipment.  Prices depend on the kind of inspection and value of the property but it is worth it. Togofor Homes can recommend several multi-lingual qualified property surveyors.

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