All Topics / Legal & Accounting / Responsibilities of a Property Development
Can anybody help with the following question? If you purchase a residential property and renovate it by doing some structural changes using licensed trades etc (Planning approvals accounted for), does your responsibility compare with that of a builder. i.e Warranties & Guarantee of the renovations rendered. I think as a builder depending on what state you opporate out of you're required to provide a guarantee of 7yrs for structural and 5yrs for minor defects, not sure…..
You may need to take out warranty builders insurance on the workmanship.
http://ownerbuilderadvice.com/home-warranty-insurance/hey millbrook
When you make structural changes you need to be a licensed tradespersons where the works meet building codes of austrialia where a engineer needs to certify the works comply.
When the new buyer does a conveyancey search they will discover the changes.
Where is the property ?
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