In a perfect world, real estate developers and property owners would follow safety regulations and disclose relevant information to potential buyers. And if they didn’t, we could count on a watchdog who would enforce those laws and ensure compliance. Unfortunately, we don’t live in that perfect world, and it is in your best interest to develop a healthy skepticism as you navigate the real estate market. In this podcast, host Toni Planinsek exposes “real estate rule breakers” via anecdotes from her personal experience in the world of property investment.
While laws and guidelines have been established to protect the public, it is naïve to assume that oversight is in place to make certain that the rules are being followed. Media coverage of recent fires brought attention to the fact that 2,000 buildings in Australia contain flammable non-compliant cladding; somehow this illegal building material made it past Customs and building inspectors. Even now, developers are waiting for owners corporations to sue before taking action to correct the issue.