Buyer Beware

What REIWA say about the Building Inspection clause!

See the REIWA post HERE.

In an information post on the REIWA website there was a post which stated the limitations imposed to the buyer using the Standard REIWA purchase clause. In essence this clause limits the extent of exposure of the seller to Structural only defects should the buyer sign up to this clause.

NOTE: The Structure of the building in the skeleton only; The foundations, floor, walls and roof frame.

In case it hadn’t occurred to you yet, REIWA represent the Real Estate agents who represent the seller. The buyer must understand that signing the standard REIWA clause creates limitations to what the buyer can expect to have fixed. Consequently it is in the buyers interests to use an alternative Building & Pest Inspection clause or use a Due Diligence clause giving you an opportunity to consider all issues relevant to the property.

It is essential for the credibility of our property inspections that we remain impartial and objective although our priority is to look after the interests of our customers within the restraints of AS4349.1 for Pre Purchase Building Inspections.

We appreciate that it isn’t usual for the buyer to have all maintenance and minor defects rectified on an established property however it is entirely reasonable for everything to function as intended, should be free of any potential safety hazards, have no structural defects and have no other major defects.

Lets be clear about this! If the roof riles are so badly eroded that replacement is imminent and therefore categorized in the report as a Major Defect in accordance with AS4349.1, then signing up for the standard REIWA clause that limits you to the structure would mean the seller has no obligation to repair this under the standard REIWA clause. Also the structural only clause would not cover a leaking shower which may require complete renewal due to moisture damage to the walls and tiles.

For more information call us on 08 9444 9562 or if you only need a quote, use our 24/7 online quote facility.

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