Start with the risk you want to understand
There is no single report that answers every purchase question. Market value, building condition, strata records and legal title involve different evidence and professional responsibilities.
Match the report to the question
A valuation considers market value for an instructed purpose and date. A building inspection examines the agreed condition scope and accessible areas. A strata records review examines scheme information. Your solicitor or conveyancer reviews the legal transaction and title issues.
Inspect the scope and reliance terms
Check who ordered the report, when it was prepared, what it excludes and whether you can rely on it. A vendor-supplied document may be useful, but its existence alone does not establish that all your questions have been addressed.
Act before contractual deadlines
Ask your adviser which investigations should be completed before signing or before a relevant condition expires. Arrange access and report timing early. Ordering a report does not extend a contractual deadline.
Use findings to make a decision
A report can identify questions for further investigation or help inform negotiations. It cannot promise a discount, prevent every defect or guarantee a profitable purchase. Consider the findings alongside the contract and professional advice.
Frequently asked questions
Will a valuation identify building defects?
A valuation is not a substitute for a building inspection. Agree separate scopes where both are needed.
Should I order every available report?
Match the investigations to the property and risks with your adviser. Avoid paying for work that does not address your decision.
Sources and further reading
- NSW Government: Pre-purchase inspection reports — Inspection scope, limitations and choosing a report.
Arrange the right report
Explore valuations with Propti. Send the property address, purpose, required date and recipient’s instructions when you request a property report quote.