Building inspection reports are conducted to avoid major structural damage that presents a financial risk. Sometimes they are done to assess possibilities for redevelopment. There is a discourse of stories’ in ‘horror the market and home buyers want to avoid house falling down.” Overall, building inspections are done “the to avoid the worst case scenario; they are disaster checks. Sometimes they are done in slow markets (like Tasmania) where houses do not go to auction as often as other cities, and time is available to buyers to construct an inspection as when making offers. ‘leverage’ However, many buyers in property markets like Sydney and Melbourne at present do not always ‘hot’ conduct inspections before going to auction and buying a house. In this research, home buyers in these buoyant property markets missed up to 4 properties before finally securing one at auction. If they were to conduct asbestos assessments prior to each auction, costs would escalate very quickly. When conducting a building inspection home buyers say they are most often looking for major structural damage in the form of… Bora Termites Roof issues Physical structure issues Tree root damage and so on not a huge risk. Not like termites.” (Sydney Home “It’s structural damage.” (Home Buyer Sydney) ticket repairs.” (Home Buyer Melbourne) “Big Some home buyers do not hold property related reports in high esteem. These people are experienced home buyers and real estate agents who have experience with reports. They believe they contain disclaimers and caveats, have a short legally responsible lifespan (some only a few weeks) and overall avoid taking responsibility and never liability. Pest inspections are considered not very reliable unless samples are taken (which they never are prior to purchase as the vendors generally do not allow for it) and pest inspectors often avoid going into roofs or under houses. People who think building related inspections are of poor value are likely to distrust asbestos assessments too. don’t do a thorough report.” (Sydney Home “They not worth the paper they’re written on.”(Sydney Home Buyer) “They’re building inspection reports have so many caveats. There are building “The inspectors I’d use for selling and ones I’d use for buying.” (Canberra Real Estate Agent) pest inspection is a farce so completely full of caveats like get “The – ‘couldn’t under the carpet etc.” (Canberra Real Estate Agent)
Building inspection reports are conducted to avoid major structural damage that presents a financial risk. Sometimes they are done to assess possibilities for redevelopment. There is a discourse of ‘horror stories’ in the market and home buyers want to avoid “the house falling down.” Overall, building inspections are done to avoid the worst case scenario; they are disaster checks. Sometimes they are done in slow markets (like Tasmania) where houses do not go to auction as often as other cities, and time is available to buyers to construct an inspection as ‘leverage’ when making offers. However, many buyers in ‘hot’ property markets like Sydney and Melbourne at present do not always conduct inspections before going to auction and buying a house. In this research, home buyers in these buoyant property markets missed up to 4 properties before finally securing one at auction. If they were to conduct asbestos assessments prior to each auction, costs would escalate very quickly. When conducting a building inspection home buyers say they are most often looking for major structural damage in the form of… Bora Termites Roof issues Physical structure issues Tree root damage and so on “It’s not a huge risk. Not like termites.” (Sydney Home structural damage.” (Home Buyer Sydney) “Big ticket repairs.” (Home Buyer Melbourne) Some home buyers do not hold property related reports in high esteem. These people are experienced home buyers and real estate agents who have experience with reports. They believe they contain disclaimers and caveats, have a short legally responsible lifespan (some only a few weeks) and overall avoid taking responsibility and never liability. Pest inspections are considered not very reliable unless samples are taken (which they never are prior to purchase as the vendors generally do not allow for it) and pest inspectors often avoid going into roofs or under houses. People who think building related inspections are of poor value are likely to distrust asbestos assessments too. “They don’t do a thorough report.” (Sydney Home “They’re not worth the paper they’re written on.”(Sydney Home Buyer) “The building inspection reports have so many caveats. There are building inspectors I’d use for selling and ones I’d use for buying.” (Canberra Real Estate Agent) “The pest inspection is a farce – so completely full of caveats like ‘couldn’t get under the carpet etc.” (Canberra Real Estate Agent)
ASEA_Report_Attitudes_residential_asbestos_assessments_final_ACC.docx