Prepurchase Reports

[Loz]

Hi Everyone,

Quick couple of questions:

Can a vendor have Pest and Building Inspections done independently and then supply them in their Contract of Sale?
If yes, why don't they?

Also, has anyone resold their (current) Pest and Building report back to the vendor of the property if for some reason the report is not favourable?

 

[depreciator]

I'd say alot of buyers wouldn't necessarily trust a pest/building report commissioned by the vendor.
Having said that, I sold an IP in December last year and paid for a pest/building report prior to putting it on the market. Then I fixed all the problems highlighted by the report. I think it helped me achieve a quick sale and gave the buyers fewer things to bargain over.
Scott

 

[Jacque]

Hi Everyone,

Quick couple of questions:

Can a vendor have Pest and Building Inspections done independently and then supply them in their Contract of Sale?
If yes, why don't they?

Also, has anyone resold their (current) Pest and Building report back to the vendor of the property if for some reason the report is not favourable?

Hi Loz
As Scott has pointed out, the issue of an independent report would be foremost in my mind- after all, how do you know the vendor hasn't hired the most incompetent building inspector in the area?
I always like to use my own, even if the vendor supplies one, simply for my own peace of mind.
As far as reselling the report to the vendor, I don't see why a seller would agree to this, unless you had it stipulated in the terms and conditions of your offer or contract of sale prior to organising the inspection. Even then, it's not something that I've ever heard a vendor willing to do.
Most of them are open to negotiation if problems are discovered in the reports, but some aren't either.

 

[Rixter]

I agree with Jacque & Scot.

For my own peace of mind I would want to commission my own Independent Buildings & Pest contractors. That way I can be sure to eliminate any vested interests on the vendors side.

Cheers

 

[Loz]

Thanks

Hi guys, I agree, I just wasn't sure if it was legal either. I received my first building inspection today and there was a clause saying that it cannot be used by anyone else or given to an agent etc unless previous permission was sought.

Thank you all for your input on the matter

Have a great day!