1 00:00:00,120 --> 00:00:02,920 Speaker 1: My concerns are being raised over building inspections and their 2 00:00:03,000 --> 00:00:05,360 Speaker 1: variety of results. So One Roof claims buyers are spending 3 00:00:05,440 --> 00:00:08,520 Speaker 1: up to ten thousand dollars on reports which may as 4 00:00:08,560 --> 00:00:11,080 Speaker 1: well be worthless. So we've got calls to clean things up. 5 00:00:11,119 --> 00:00:13,720 Speaker 1: The New Zealand Institute of Building survey As President Daryl 6 00:00:13,760 --> 00:00:15,720 Speaker 1: August is with us on this. Daryl, very good morning 7 00:00:15,720 --> 00:00:16,000 Speaker 1: to you. 8 00:00:16,960 --> 00:00:18,520 Speaker 2: Good morning Mike, how are you very well? 9 00:00:18,520 --> 00:00:20,200 Speaker 1: Thank you? How much of this is about banks? In 10 00:00:20,239 --> 00:00:21,640 Speaker 1: other words, we're not going to give you the money 11 00:00:21,680 --> 00:00:22,840 Speaker 1: until you get a building report. 12 00:00:24,560 --> 00:00:29,840 Speaker 2: In New Zealand, banks will sometimes assist on a pre 13 00:00:29,880 --> 00:00:33,480 Speaker 2: purchase inspection and it may come need to come from 14 00:00:33,520 --> 00:00:36,720 Speaker 2: somebody like a registered Bilding Surviir or a Chartered Buildings 15 00:00:36,720 --> 00:00:40,080 Speaker 2: of Air, but it's not a mandatary requirement. If you 16 00:00:40,120 --> 00:00:44,280 Speaker 2: look at countries at the UK, pretty much every property 17 00:00:44,320 --> 00:00:47,000 Speaker 2: that you purchase, if you're purchasing with a mortgage, you 18 00:00:47,080 --> 00:00:51,199 Speaker 2: need a pre purchase inspection from a charted building surveyor do. 19 00:00:51,159 --> 00:00:53,000 Speaker 1: You know where this ten thousand dollars comes from? And 20 00:00:53,040 --> 00:00:55,240 Speaker 1: the one roof andicle, I've done a lot of building 21 00:00:55,320 --> 00:00:57,400 Speaker 1: reports in my life and never come close to spending 22 00:00:57,400 --> 00:00:58,560 Speaker 1: ten thousand dollars. 23 00:00:59,280 --> 00:01:01,800 Speaker 2: No read through the report, it actually says that there 24 00:01:01,800 --> 00:01:05,240 Speaker 2: were eleven inspections completed on one property. So that's probably 25 00:01:05,280 --> 00:01:09,199 Speaker 2: where the ten thousand comes from. And the particular agent 26 00:01:09,280 --> 00:01:14,839 Speaker 2: was concerned about the differing opinions within those eleven reports. 27 00:01:15,040 --> 00:01:17,720 Speaker 1: And is that the problem though, because I have struck 28 00:01:17,760 --> 00:01:19,720 Speaker 1: that depending on who you ask, whether it's you make 29 00:01:19,760 --> 00:01:21,600 Speaker 1: the builder of rummages through the roof and looks at 30 00:01:21,600 --> 00:01:24,160 Speaker 1: the pink bats versus somebody else with as moisture detector, 31 00:01:24,400 --> 00:01:26,280 Speaker 1: you're getting a different rate every time, aren't you. 32 00:01:27,200 --> 00:01:31,600 Speaker 2: Yeah, you are. And that's why you know regulation is required, 33 00:01:32,000 --> 00:01:34,679 Speaker 2: and whether that regulation is pushed or driven by the 34 00:01:34,720 --> 00:01:37,319 Speaker 2: banks or the government has yet to be decided. But 35 00:01:37,800 --> 00:01:40,040 Speaker 2: you know, there is a new Zealand standard for prepurchase 36 00:01:40,040 --> 00:01:43,640 Speaker 2: suspection which is a new ZEO standard four h six 37 00:01:44,200 --> 00:01:47,520 Speaker 2: that's now beaten back to almost twenty years old, and 38 00:01:48,280 --> 00:01:50,840 Speaker 2: you know, in my opinion, probably needs an update. It 39 00:01:51,880 --> 00:01:56,800 Speaker 2: doesn't cover things or excludes things. Rental property tendancy inspections, 40 00:01:57,200 --> 00:01:59,480 Speaker 2: well we now have since two thousand and five, I 41 00:01:59,520 --> 00:02:02,880 Speaker 2: hope you healthy home standards, so there's a bit of 42 00:02:02,920 --> 00:02:05,640 Speaker 2: a change there. So you're an investor, you probably want 43 00:02:05,720 --> 00:02:08,720 Speaker 2: to add that to the inspection that you're going to 44 00:02:08,720 --> 00:02:10,640 Speaker 2: obtaining for a property you might want to purchase. 45 00:02:10,840 --> 00:02:13,640 Speaker 1: Yeah, okay, good on you, Darrell, appreciate the insight. Daryl August, 46 00:02:13,639 --> 00:02:16,399 Speaker 1: who's the New Zealand Institute of Building the survey as president. 47 00:02:17,000 --> 00:02:19,880 Speaker 2: For more from The Mic Asking Breakfast, listen live to 48 00:02:20,000 --> 00:02:23,080 Speaker 2: news talks that'd be from six am weekdays, or follow 49 00:02:23,120 --> 00:02:24,680 Speaker 2: the podcast on iHeartRadio.