Terms of Use and Disclaimer

Commercial Review provides independent, high-level assessments of commercial property opportunities.

Depending on the service ordered, our review may consider matters including:

• property details and specifications;
• purchase pricing;
• comparable sales evidence;
• rental evidence;
• lease terms;
• net yield and financial calculations;
• outgoings;
• tenant information;
• lease strength;
• tenant concentration and vacancy risk; and
• other key commercial property risks.

The exact scope of the service is limited to the inclusions stated on our website, quotation, order confirmation or report.

Unless expressly agreed otherwise in writing, our services are preliminary and high-level in nature.

A Commercial Review report is intended to help identify matters that may require further investigation. It is not a complete due diligence investigation and should not be treated as approval or endorsement of a property transaction.

Our review does not replace independent investigations undertaken by appropriately qualified professionals.

Before entering into an agreement or completing a transaction, you should obtain advice relevant to your circumstances from suitably qualified professionals, which may include:

• a commercial property lawyer or solicitor;
• a licensed valuer;
• an accountant or tax adviser;
• a finance broker or lender;
• a building inspector;
• an engineer;
• an environmental consultant;
• a town planner;
• a quantity surveyor;
• an insurance adviser; and
• any other specialist appropriate to the property or transaction.

Commercial Review is not providing a formal property valuation.

Any estimated value range, rental range, yield comparison, rate per square metre or pricing commentary is an indicative market assessment only.

It must not be represented or relied upon as:

• a valuation prepared by a licensed or qualified valuer;
• a mortgage valuation;
• an insurance valuation;
• a statutory valuation;
• an accounting valuation; or
• evidence that a property will achieve a particular sale price, rental amount or valuation outcome.

A licensed valuer should be engaged where a formal or legally relied-upon valuation is required.

We do not provide legal advice.

Any lease summary, lease strength assessment or commentary about lease terms is a high-level commercial observation only.

We do not confirm:

• whether a lease is legally valid or enforceable;
• whether it has been correctly executed;
• whether all required parties are bound;
• whether options have been properly exercised;
• whether rent reviews are legally effective;
• whether outgoings are legally recoverable;
• whether guarantees or security documents are enforceable;
• whether the lease complies with retail leasing or other legislation;
• whether any provision is void, unfair or legally defective; or
• whether the lease protects the purchaser’s legal interests.

The lease, contract of sale and all associated transaction documents should be reviewed by a suitably qualified commercial property lawyer before the purchaser becomes unconditionally bound.

Our reports provide general commercial property information only.

We do not provide:

• personal financial advice;
• financial product advice;
• credit assistance;
• lending approval;
• taxation advice;
• accounting advice;
• self-managed superannuation fund advice; or
• advice that takes into account your complete financial position, objectives or needs.

We do not determine whether a property is affordable or suitable for you.

You remain responsible for obtaining independent financial, lending, accounting and taxation advice before making an investment decision.

A report rating, score, conclusion or statement such as “reasonable”, “strong”, “weak”, “higher risk” or similar language is an opinion based on the limited information assessed.

It is not:

• a recommendation to purchase, sell, lease or finance a property;
• a promise that the property is suitable;
• confirmation that the transaction is commercially sound;
• confirmation that finance will be approved;
• a prediction of future performance; or
• a guarantee that identified risks are the only risks affecting the property.

The final decision to proceed with a transaction remains entirely yours.

Our services rely heavily on information supplied by clients, selling agents, tenants, property owners, finance brokers, referral partners, advisers and third-party data providers.

This information may include:

• information memoranda;
• leases and disclosure documents;
• contracts of sale;
• rental schedules;
• outgoings statements;
• tenant information;
• building areas;
• property plans;
• comparable sales and leasing evidence;
• proposed purchase prices;
• financial assumptions; and
• publicly available records.

Unless expressly stated otherwise, we do not independently audit, verify or certify this information.

We are not responsible for errors, omissions, inconsistencies or misleading information contained in material supplied to us or obtained from third-party sources.

You are responsible for:

• providing complete, accurate and current information;
• disclosing information that may materially affect the assessment;
• checking the property address, purchase price, rent, areas and transaction details;
• ensuring you are authorised to provide documents and personal information to us;
• reviewing the completed report promptly;
• notifying us of any apparent factual error;
• obtaining specialist advice and completing further due diligence; and
• ensuring appropriate finance, valuation, legal and due diligence conditions are included in any offer or contract.

You must not withhold information that could reasonably affect the report findings.

Unless specifically included in the agreed scope, we do not physically inspect the property or independently verify matters such as:

• structural condition;
• building defects;
• measurements or floor areas;
• planning approvals;
• building approvals;
• occupancy permits;
• zoning compliance;
• permitted use;
• fire safety compliance;
• disability access compliance;
• contamination;
• asbestos;
• hazardous materials;
• flooding, bushfire or environmental risks;
• boundaries, easements or encroachments;
• title defects;
• strata records;
• plant and equipment condition;
• services or utilities;
• insurance availability;
• tenant financial capacity;
• tenant turnover or profitability; or
• the authenticity or enforceability of documents supplied.

These matters require separate professional investigation where relevant.

Any tenant assessment is based on limited information and publicly available records.

It is not a formal credit check, financial audit, solvency assessment or guarantee that the tenant will:

• pay rent;
• comply with the lease;
• remain in occupation;
• exercise an option;
• renew the lease;
• maintain its business operations; or
• meet its obligations in the future.

Past business operation or payment history does not guarantee future performance.

Where tenant strength is important to the purchase decision, you should obtain current financial information, references, security details and appropriate legal and financial advice.

Comparable sales and rental evidence may be sourced from third-party databases, agency listings, publicly available material, market contacts and information supplied to us.

Comparable properties will rarely be identical to the subject property. Differences may include:

• location;
• land and building area;
• age and condition;
• title;
• zoning;
• lease structure;
• tenant strength;
• incentives;
• improvements;
• access;
• configuration;
• sale conditions; and
• transaction timing.

Comparable evidence must therefore be interpreted as an indication of market positioning rather than proof of a specific property value or rent.

Financial calculations are indicative only and may be based on assumptions, estimates and rounded figures.

Calculations may exclude or estimate expenses such as:

• stamp duty;
• legal costs;
• valuation costs;
• finance costs;
• loan establishment fees;
• settlement costs;
• taxation;
• depreciation;
• repairs and maintenance;
• capital expenditure;
• vacancy;
• leasing fees;
• incentives;
• unrecoverable outgoings;
• land tax;
• insurance changes; and
• interest-rate movements.

Actual costs, cash flow and returns may differ materially.

You should independently verify all calculations with your accountant, lender, finance broker and other advisers.

Property markets, rents, yields, interest rates, tenant performance, lending conditions and government requirements may change.

We do not guarantee:

• capital growth;
• rental growth;
• tenant retention;
• future occupancy;
• resale value;
• borrowing capacity;
• refinancing availability;
• future valuation outcomes;
• taxation outcomes;
• investment returns; or
• the absence of financial loss.

Any forward-looking commentary is an opinion only and should not be treated as a prediction or guarantee.

A report reflects information available to us at the date it is prepared.

It may become inaccurate or incomplete if:

• the proposed purchase price changes;
• the lease is varied;
• new documents become available;
• a tenant’s circumstances change;
• the property condition changes;
• further due diligence identifies additional information;
• new comparable evidence becomes available; or
• market, legal, finance or economic conditions change.

We are not required to update a report after it has been issued unless a separate update service is agreed and paid for.

Any turnaround time stated on our website, quotation or communication is an estimate unless expressly guaranteed in writing.

Turnaround times may be affected by:

• incomplete information;
• delays receiving documents;
• the number of tenancies;
• property complexity;
• third-party data availability;
• clarification requests;
• public holidays; or
• circumstances outside our reasonable control.

We are not responsible for a missed contractual, finance, due diligence or settlement deadline unless we expressly accepted responsibility for that deadline in writing.

Clients should order reports early enough to allow time for further professional advice and due diligence.

Fees are displayed or quoted in Australian dollars and include GST where stated.

Payment must be made in accordance with the payment instructions provided at the time of ordering.

The base fee may apply only to the property type, report type and number of tenancies stated in the service description.

Additional fees may apply where:

• a property has more than one tenancy;
• more documents or analysis are requested;
• the supplied information is incomplete or disorganised;
• the scope changes after work begins;
• an updated report is requested;
• urgent completion is requested; or
• the property is materially more complex than disclosed.

We will advise you where a material additional fee is required before undertaking the additional work.

Because work may begin shortly after an order is received, cancellation rights are limited once work has commenced.

Where you cancel before work begins, we may provide a refund less any non-refundable payment processing or administrative costs, to the extent permitted by law.

Where work has already commenced, we may retain an amount reasonably reflecting:

• work already undertaken;
• third-party costs incurred;
• administrative costs; and
• resources committed to the order.

No refund is payable merely because:

• you decide not to purchase the property;
• finance is declined;
• the report identifies negative matters;
• the transaction does not proceed;
• you disagree with an opinion expressed;
• another adviser reaches a different conclusion; or
• the property is sold to another buyer.

Nothing in these terms excludes any refund, remedy or consumer right that cannot lawfully be excluded.

You must review the report and notify us of any apparent factual or calculation error as soon as reasonably possible.

Where we confirm that we made a material factual or calculation error, our first step will generally be to correct the report and issue a revised version.

A difference of opinion, different comparable selection or different professional judgement does not necessarily constitute an error.

Unless otherwise agreed in writing, a report is prepared solely for:

• the person or entity named as the client; and
• the specific property and proposed transaction identified in the report.

The client may provide the report to its lawyer, accountant, lender, finance broker or other professional adviser for the purpose of assessing that transaction.

The report must not be:

• relied upon by another purchaser;
• reused for another property or transaction;
• published publicly;
• sold or sublicensed;
• materially altered;
• quoted out of context;
• represented as a formal valuation;
• represented as legal, tax or financial advice; or
• used to mislead another person.

No person other than the named client may rely on a report without our prior written consent.

Providing a report to a broker, accountant, adviser, lender, agent or other third party does not automatically create a duty of care or contractual relationship between Commercial Review and that third party.

Any authorised recipient must read the complete report, including its limitations and disclaimers.

A service may be introduced, ordered, branded or delivered through a referral partner.

A referral or white-label arrangement does not mean that the referral partner:

• prepared the report;
• verified its contents;
• endorses every conclusion;
• provides valuation or legal advice; or
• accepts responsibility for the report.

Unless otherwise disclosed, Commercial Review remains responsible for preparing the report within the agreed scope.

Referral partners remain responsible for their own advice, representations and professional obligations.

We may pay or receive referral fees or commercial benefits where permitted by law. Where a specific disclosure is legally required, it will be made separately.

All website content, report formats, scoring systems, methodologies, wording, templates, graphics, branding and other materials created by Commercial Review remain our intellectual property or are used under licence.

Payment for a report gives the client a limited, non-exclusive and non-transferable licence to use the final report for the relevant transaction.

It does not transfer ownership of:

• our methodologies;
• report templates;
• scoring models;
• prompts;
• internal calculations;
• systems;
• databases; or
• underlying intellectual property.

You must not copy, reproduce, reverse engineer, commercially exploit or create derivative services from our materials without written permission.

Information published on our website is general information only.

Website content may not be complete, current or suitable for your circumstances. It should not be relied upon as professional advice or as a substitute for a property-specific review.

We may change, remove or update website content without notice.

Our website may contain links to third-party websites, software, payment platforms, databases or services.

We do not control and are not responsible for:

• their content;
• their availability;
• their security;
• their accuracy;
• their privacy practices; or
• any loss resulting from their use.

A link does not necessarily mean we endorse the third party.

We do not guarantee that the website will always be available, secure or free from errors, viruses or harmful code.

You are responsible for maintaining appropriate device security, backups and malware protection.

We may suspend, restrict or discontinue any part of the website without notice.

You must not:

• use the website or our services unlawfully;
• provide false or misleading information;
• upload malicious software;
• interfere with the website’s operation or security;
• attempt to gain unauthorised access to our systems;
• scrape or systematically extract website content;
• reproduce or resell our reports without permission;
• impersonate another person;
• infringe another person’s intellectual property or privacy rights; or
• use our services to mislead a lender, investor, purchaser or other party.

We may refuse or cancel a service where we reasonably believe prohibited conduct has occurred.

To the maximum extent permitted by law, Commercial Review and Inbesthomes Pty Ltd exclude liability for indirect, incidental, special or consequential loss arising from the website, a report or our services.

This includes, where legally permissible:

• loss of profit;
• loss of rent;
• loss of opportunity;
• loss of financing;
• loss of capital growth;
• loss caused by vacancy or tenant default;
• business interruption;
• holding costs;
• transaction costs;
• taxation consequences; and
• loss arising from a decision to purchase, sell, finance or not proceed with a property.

To the maximum extent permitted by law, our total aggregate liability arising from a particular service is limited to the amount paid to us for that service.

This limitation does not apply to liability that cannot legally be excluded, restricted or limited.

Nothing in these terms excludes, restricts or modifies any right, guarantee, condition, warranty or remedy that cannot lawfully be excluded under the Australian Consumer Law or other applicable legislation.

Where we are permitted to limit our liability for a failure to comply with an applicable statutory guarantee, our liability may be limited, at our option, to:

• supplying the services again; or
• paying the reasonable cost of having the services supplied again.

This limitation applies only to the extent permitted by law.

To the maximum extent permitted by law, you indemnify Commercial Review and Inbesthomes Pty Ltd against loss, liability, damage, cost or expense arising from:

• information or documents you provide that are inaccurate, incomplete, misleading or unauthorised;
• your unlawful or unauthorised use of a report;
• your breach of these terms;
• your infringement of another person’s rights; or
• a third party relying on a report contrary to these terms.

This indemnity does not apply to the extent that the loss was directly caused by our negligence, wilful misconduct or breach of law.

We may refuse, suspend or cancel an order where:

• required information is not supplied;
• the requested scope is outside our expertise;
• the request involves unlawful, misleading or unethical conduct;
• a conflict of interest exists;
• payment is not received;
• the client behaves abusively or unreasonably; or
• we reasonably consider that we cannot provide a reliable assessment.

Where we cancel before commencing work, any amount paid will generally be refunded, less non-refundable third-party costs where permitted by law.

Our handling of personal information is governed by our Privacy Policy, available on our website.

By submitting information or documents, you acknowledge that they will be handled in accordance with that policy.

We may amend these terms from time to time.

The updated terms will apply to website use from the date they are published. The terms applying to a paid order will generally be those in effect when the order was placed, unless a change is required by law or agreed with the client.

If any provision of these terms is found to be invalid, unlawful or unenforceable, that provision will be read down or removed to the minimum extent necessary.

The remaining provisions will continue to apply.

A failure or delay by us in enforcing a right under these terms does not waive that right.

These terms are governed by the laws of Western Australia.

The parties submit to the non-exclusive jurisdiction of the courts of Western Australia and any courts entitled to hear appeals from them.

Questions about these terms can be directed to:

Commercial Review
Operated by Inbesthomes Pty Ltd
ACN 617 283 593
Email: reviews@commercialreview.com.au