Real Estate Agent Legislation Effects on Purchasers

With the introduction of pre-purchase property inspection legislation, that came into effect in mid 2016, there are a important details that Conveyancers and Purchasers need to be aware of…

• Are the Purchasers getting a report issued in their name?

• Do the reports have the details of the inspector in order to discuss any queries they may have?

Not many inspection Companies that are offering copies of reports meet these basic and vital requirements. All of Childs Property Inspection Reports comply with these requirements, whether they be carried out for a Vendor, a prospective Purchaser or a copy of an existing report.  (See more information on our $50 Vendor Reports)

As a result of Real Estate Agents being required to inform prospective Purchasers of the existence of property inspections, there is a major increase in Purchasers obtaining copies of existing reports. Purchasers and Conveyancers should always ensure that the reports are covered by a reliable insurance policy, that the Purchaser has the full details of the author of the inspection report, and most importantly that the report is issued to them in their own name. If a Purchaser does not have their name on the report they are not covered by the inspector’s insurance policy.

If you want to ensure that your Vendors are obtaining reports ready for sale on their properties that will meet the needs of Purchasers we recommend our $50 Vendor Reports.

To ensure your Purchasers are obtaining a report that they can rely upon, that is covered by insurance and that has been carried out by a reliable and long standing inspection company, we recommend our Building, Pest, Thermal Pest and Strata Pre-Purchase Inspection Reports.

Click below to see Legislation:

legislation-for-agent-compliance-2016