Most people, even if they knew what a geotechnical report was, would probably assume a builder would’ve had to verify the stability of the soils before being able to obtain a building permit. And, for the most part, that’s true. So, when exactly does requesting a geotechnical report on the property actually become necessary for the real estate buyer? This article is going to look at a few reasons why you should forget that question altogether and just make the decision now to always get one.
Conveyance Process – FOUNDATIONS
Most people are going to understand that when they buy a home it’s important to inspect the foundations. Some of these same people might even consider the foundations to be the most important aspect of the home inspection process. Yet, how often do home inspectors look at or obtain a soils report? A house is only as good as the foundation it’s built upon. I’m sure we’ve all heard that said before. Any architect will tell you that when you are inspecting the integrity of a foundation, the most in important piece of that puzzle, by far, will be determined by the stability of the soils.
Conveyancing Melbourne, If you ask someone who has recently purchased real estate whether or not their purchase was contingent on the results of a soils test, they will probably give you a bit of a confused look. This is certainly understandable if that real estate purchase was for a recently constructed home.
Conveyance Process – DEPENDING ON REPUTABLE SOURCES
Ok, fine, let’s say you agree the soils report is important. Why do we need one if the previous builder already had one done when the house was built? Well, the first thing to understand is that just because one was done, that doesn’t mean the case is closed on the condition of the soils. The first thing to do is to attempt to track down the geotechnical report, conveyancing Melbourne if one was done fairly recently. It will tell you exactly where they took the soil samples and give those results. And different sample locations on a piece of property can have extremely different results. If a section of property was not tested then you can’t assume anything about it. Also, how long ago the test was conducted needs to be considered as well. A quality report will be given by a reputable engineer and that’s what you are looking for.
Conveyance Process – A PROPERTY’S PAST CAN DICTATE ITS FUTURE VALUE
Always remember that what a piece of land is used for today doesn’t necessarily determine its future or current value. All properties have their current uses, but can also be redeveloped as a different use in the future. And sometimes that different use can be worth much more than the current. Developers know this all too well, but most people don’t consider it. There can be reasons that potential future land buyers may pass up on a piece of property just because of whats in the soils. The property at some point may have had a laundromat on it as a past use, the soils report may say that part of the property is not structurally sound for building, or maybe there can even be a case where a past owner has buried something on the property. All these can be reasons why two properties that look like they should be very similar in value are actually completely different.
Architects and home builders know well that one of the first steps in determining the value of a piece of land is to consult a soils engineer. It is one of the most important considerations when analyzing the potential value of a piece of property. And for the most part, geotechnical reports are usually quite affordable. Yet, it can possibly tell you what can be built, how it should be built, and even how long what was already built will last. That’s information that you just can’t afford to miss out on.
