00:02It's one of life's biggest purchases, but before taking the leap, real estate agent
00:07Michael Tomadakis says buyers should always be armed with a building inspection.
00:12There obviously are things that can come up, and I wouldn't really buy anything without
00:18one.
00:18But the onus may soon shift.
00:21The Premier today is saying a re-elected Labor government would introduce a scheme
00:25requiring vendors to provide a building and pest inspection before selling their property.
00:31When you're selling a car, the seller needs to provide a roadworthy certificate to all
00:37of the interested buyers.
00:38The same approach needs to be taken for interested buyers looking at buying a home.
00:44Home buyer Rose Kenny spent hundreds on inspections when looking for a house.
00:49We spent all of this money for all of these reports, and it is even more disappointing
00:54when you get to the end and you're like, well, that's $500 wasted.
00:58While the plan is light on details, the Premier is promising to consult widely.
01:03The Real Estate Institute of Victoria backs the idea, but others say it will undermine the
01:09independence of building inspectors.
01:11They're no longer having a client who is the purchaser.
01:14Their client will become the vendor or the agent, and so their incentive is to continue getting
01:20work by providing reports that have the most limited number of issues.
01:24It's not an independent inspection report.
01:27It's a report that's going to go into the REIV contract.
01:30This report will be whitewashed.
01:32It won't be a proper report.
01:35Legislation won't be introduced until 2027.
01:39Well, this is another big promise by the Labor government with no intention to follow through
01:44before the election.
01:46This is a promise without any detail.
01:49Buyers who want their own building inspection would still be able to obtain one ahead of sale.
01:54Let's go.
01:54You
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