Don’t Get Caught Out By The Recent Change In The REIV Contract Clause
Recently the wording has changed in a clause of the Real Estate Institute of Victoria’s contract. It’s is extremely important to know if you are thinking of buying or selling a home or commercial/ industrial building.
The previous contract referred to a building inspector undertaking the inspection. The updated copy at two point’s clearly names a registered building practitioner.
Registered Building Practitioner versus Pre – Purchase Building Inspector
What does this mean for real estate agents and people in the market for property?
This is a beneficial change in the documentation as a building practitioner refers to an individual who is registered with the VBA ( Victoria Building Authority) and has qualifications for the job. Anyone can call themselves a pre-purchase building inspector.
But, if you have your house / building checked out by someone who is not registered ( not qualified to build a home/ building but trying to tell you what’s wrong with it) there work may not be safe, thorough or correct.
Don’t risking it uses a licensed DBU builder ( licensed to build any home) registered with the VBA ( Victoria Building Authority)
The change in the clause allows for more regulation on who is conducting the inspection, there are many unqualified inspectors out there in the industry as there is no formal governing body to manage pre-purchase building inspector licenses.
If something is found as a result of an inspection by a registered building practitioner with the VBA, all money paid must be immediately returned to the purchaser” as outlined in the contract. To remedy this you will have to engage a registered building practitioner in any case. Consequently, it is well worth the expense, time and security to hire a registered building practitioner to inspect your property.
It’s all to often that Shane is approached to inspect a house that initially was not checked correctly by an inspector that was not a registered building practitioner with the VBA.
Registered building practitioners also ensure that the inspection is conducted and the report returned to the purchaser within the specified time allowed in the contract of sale. Shane’s reports are returned on the same day.
Don’t get caught out
Buying a home is one of the biggest investments a person will make in a life time.
If you or someone you know is buying a new Home , ensure that a registered building practitioner undertakes the inspection to save the purchaser money, time and unwanted hassle.
Think Smart Think BMC Building and Pest Inspections.
If you are searching for a licensed building practitioner to inspect a property?
Shane for BMC Building and Pest Inspection is extremely knowledgeable, highly qualified, highly experienced, approachable and returns his funding on the same day inspection is carried out.
Shane takes pride in assisting people to avoid major surprises and costs in addition to the purchase of a property. Get the right person first time when buying or selling a property, hire a registered building practitioner.