It makes sense for pest and building reports to be buyer driven.
It makes sense for pest and building reports to be buyer driven.

Agent for report status quo

STATE government plans to put the onus on home vendors to cough up for building and pest inspections prior to listing properties for sale are in response to the volume of metropolitan buyers and may be difficult to implement in regional areas.

That’s the view of Christine Clark, principal of Raine and Horne, Coffs Harbour.

“If the vendor has to pay, it’s really using a sledgehammer to crack an acorn,” she said.

“It’s really being driven by the Sydney market where large numbers turn up for auctions and those who miss out have expended money on buying reports.”

“We have far, far fewer auctions than they have in the city. In the country, most sales are by private treaty.”

NSW Lands Minister Tony Kelly called for public comment on the proposal to require home owners to commission building and pest inspections in a review to be finalised by November.

“The positives are that it will facilitate quicker exchange periods. Purchasers will know where they stand,” Ms Clark said. “There are some solicitors in Coffs Harbour who say to vendors, why don’t you get a building and pest inspection before sale but when this is passed to buyers, their solicitor says to throw it away.”

“One of the fears is that some vendors are going to struggle. They have to outlay between $250 and $300 for a solicitor to draw up a contract and obtain a 149 Certificate and drainage diagram. A building inspection report costs around $450 and pest inspection report around $200.”

Information on the changes is available at the Land and Property Management Authority’s website www.lpma.nsw.gov.au.



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