We see many vendors are very proactive in doing all they can to assist purchasers shorten or remove standard conditions which is fantastic to see. However, relying on a vendor supplied builders report is always strongly discouraged. In this blog we advise why:
🛡️ Legal Risks of Relying on a Vendor Supplied Builder's Report
A contractual relationship exists between the building inspector that completed the report and with the person who paid for the report. On this basis, should you rely on the content of the vendor supplied builders report to purchase the property and discover issues following settlement that were not identified in the builders report, you will have no legal recourse against the building inspector for loss suffered.
However, should you engage your own building inspector to complete a builders report for you and you suffer loss in the future due to omission of issues present with respect to the dwelling and not identified in the builders report, you will have the legal right to look to the building inspector for compensation.
✅ How to Ensure Peace of Mind: Getting Your Own Building Inspection
It is for this reason we always strongly recommend you obtain your own builders report.
Obtaining your own builders report from someone you trust also provides you with the reassurance that the property has been thoroughly checked to your satisfaction.
The only alternative to obtaining your own builders report that we would recommend if you are comfortable with the content of the vendor supplied builders report and are confident that the company that produced it was thorough to your standards, you can discuss with your real estate agent the process of “purchasing” the builders report for a small fee paid to the building inspector to have your name issued on the builders report. This will provide you with the same protection as if you were the person to initially engage the building inspector.
However, be aware all builders reports should be considered equal! We have had many clients receive a vendor supplied builders report to go ahead and get their own from another building inspector which has identified issues the first builders report was silent on.
Purchasing a house is a massive investment, it’s a good to have peace of mind when it comes to a builders report.
For more information or to speak with a member of our team, please get in touch.