THE Master Builders Association of the ACT has questioned the independence of property reports.

In the ACT, sellers are required to have a property inspection before they list for sale. Potential buyers are then given copies of the report to consider.

“The reality is that a property inspection company is paid by the seller to prepare the report, and protect their interests not the buyer’s,” said Jerry Howard, the MBA’s deputy executive director.

“Most vendors want a report favouring their sale. It’s not necessarily an independent report.

“There are some good companies out there, but the industry is not legislated and not all inspectors are accredited or professionals with years of direct experience in the building industry.

“In the ACT, all you need is professional indemnity insurance to become an inspector – no other qualifications.”

Bruce Cohen, a qualified property inspector and MBA building consultant with more than 10 years’ experience, focuses on buyers.

“People are investing hundreds of thousands of dollars, so spending a few hundred dollars to get a qualified, experienced inspector to do an independent report before they buy is a wise investment,” he said.

“Buyers also need to take reports seriously, reading every word and getting the inspector to explain technical content.”

Recently, he dealt with a buyer who skimmed over the termite section of a report believing termites weren’t a problem in the ACT.

The buyer paid close to $1 million for the property and had since spent more than $50,000 getting rid of the termites.

Another buyer relied solely on a seller’s report and subsequently discovered a major roof problem that cost more than $10,000.

Bruce, who with his wife Sharlene operate Surety Property Reports,  also reviews sellers’ reports to provide a second opinion.

“You get a second opinion when buying a second-hand car, why not with one of the biggest investments in your life?” he said.