Can I save money by obtaining a report prepared by the agent and/or vendor? No:
On the surface (in theory) it sounds like an excellent idea but in NSW all inspections need to comply with (A – I) above.
No – Unlike the ACT inspectors in NSW are not required to be licenced. It is now an “Unregulated Industry” and buyers need to beware.
No – reports cannot be transferred into your name after you purchase the property, thus rendering them of little and/or no value for pre purchase purposes.
The report legally belongs to the person whose name is on the report. It is therefore important to be aware that losses arising in contract or tort sustained by a third party is at your own RISK. Therefore it is vital that your name is on the report prior to purchase.
“Caveat Emptor” – Buyer beware.
You should always seek advice from your licenced legal representative prior to purchasing a property.
Please contact our office directly on 1300 557 902 if you have any questions.