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.

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