A building and pest inspection should be undertaken during the cooling off period for a private treaty sale. If your buying at auction, it is advisable to get your inspection done prior to making an offer as auction conditions usually don’t let you make an offer subject to a building or pest inspection. The purchase of a property is one of the most expensive investments or your life so you need to do your diligence, and a building and pest report is essential. Structural issues can cause huge financial headaches and building defects can be in both new and older homes. For a small fee relative to the purchase price, you can be informed of any structural or maintenance items that may require fixing. There are several different types of building inspections, with costs varying depending on the level of detail.