Get a pre-purchase property report for free – at the Vendor’s cost – sounds OK!

The Victorian Government’s consideration that Vendor supplied reports will save Purchasers the cost of having their own reports prepared lacks an understanding of reality. It is a fanciful suggestion that Vendor supplied reports being a part of Section 32 vendor statements will provide purchasers with assurance that the property they are procuring will meet their expectations let alone provide an  independent view.

Here’s why:

  • The “buddy factor” between many real estate agents and building & timber pest inspectors has been going on since Adam was a boy – and now we are lead to believe that this should be enshrined in law – really?!
  • By not commissioning them, Vendor reports do not belong to the Purchaser. Particular requirements or concerns of the purchaser are not given any consideration. What legal right does a purchaser have from an inspector (licenced or not), real estate agent or vendor if the report(s) are found to contain inaccuracies?
  • The suggestion that Vendor reports or for that matter any Pre-purchase building & timber pest inspection report can be seen as a form of “certification” is unrealistic. Building Certification occurs at the time of building construction according to the building regulation/code of the day – provided by a registered building surveyor. Certification cannot be provided on the restricted basis of a pre-purchase assessment – i.e. where building techniques of properties range from those of the 19th Century through to the current era.

Paying lip service to what should be independent and informed advice is not a solution – not helpful.

To be clear – a dispassionate Property & Timber Pest Assessment only really has a chance of being useful when the purchaser chooses the assessors and pays for a report.

 

For more information go to www.archicentreaustralia.com.au

This media release has been written and distributed by:

Archicentre Australia
Peter Georgiev, Director
Level 1, 9 Strathalbyn Street,
Kew East, VICTORIA, 3102
Phone: 1300 13 45 13 | 03 9859 9950