Home Buyers Beware: Read Between The Lines
There are 3 important facts to consider for anyone looking to purchase a home:
1. In the majority of cases, the Real Estate Agent works for the seller, not the buyer. Agents get paid a commission, so they will generally only get paid if they end up selling the property.
2. Individual building inspectors and inspection companies that declare their income to be less than $300,000 per year don’t need to meet the Building Services Authority (BSA)’s Financial Licensing Requirements. These inspectors can also apply for exemption from having Professional Indemnity Insurance on the grounds of financial hardship. This can seriously impact you as the client, and could end up costing you tens of thousands of dollars if the inspector missed a serious issue or defect during the inspection.