Real Estate Agents and Prepurchase Reports

Pre-purchase property inspection report

Conducting a thorough building inspection before purchasing a property is essential. This inspection provides a detailed assessment of the property’s condition, identifying building defects, issues like rising dampness or wall movement, safety hazards, and faulty roofing. Obtaining this report before exchanging sale contracts helps identify potential problems that could lead to expensive repairs in the future.

Recording and disclosure requirements

When selling a residential property, real estate agents have obligations regarding record-keeping and disclosure. They must maintain written documentation of any pre-purchase property inspection reports they know, including building and pest inspections, examination of the property’s documents as described in relevant acts, certificates concerning financial matters, and evaluation of relevant documents based on set guidelines. When prospective buyers request a copy of the sale contract for the property, agents are obligated to disclose the records of pre-purchase inspection reports according to specified regulations.

Pre-purchase Inspection Auction

Clear View Property Inspections is here to help you make informed decisions about your property. Building inspections are essential for maintaining the longevity and safety of your property.

Reporting information

Agents must document the following for each report:

  • Inspection date
  • Requester’s identity
  • Contact details and professional affiliation of the report preparer
  • Confirmation of professional indemnity insurance coverage for the author of the report
  • Availability status (repurchase option)

Agents can determine if a report has been prepared through various means. The vendor may inform them about the existence of reports, or they can proactively inquire with vendors regarding any existing reports. Vendors might request agents to arrange different types of inspections and access property for prospective buyers’ records.

We can help identify potential structural defects that could lead to significant damage if left unaddressed. Cracks in the building’s structure can be indicators of potential structural failure.