Local, personable and assured legal services
Albany and the Great Southern
Local, personable and assured legal services - Albany and the Great Southern

Dangers when buying a property – structural defects…

A cautionary tale in the news today: http://www.abc.net.au/news/2018-10-07/push-for-changes-to-building-inspections/10344374

In summary, in most transactions (using the REIWA annexure), if a structural defect is detected, the seller of the property is obligated to either compensate the buyer or remedy the defects using a registered builder. However, the definition of structural defect is narrow in scope – defects that are not considered structural include sagging ceilings, leaking shower recesses, problems with the roof (other than the roof frame) and rising damp.

It is wise for any builder or real estate agent to draft a new annexure, to replace that of REIWA, which allows buyers and sellers to specify what will be covered in the inspection. This will help reduce conflict between buyers and sellers.

By | 2018-10-08T09:34:40+00:00 October 8th, 2018|Springdale News|Comments Off on Dangers when buying a property – structural defects…