What can we do???

[variable]

We recently bought a renovated house and had the inspection done, the inspection report suggest the house has no problem so we went ahead and settled in. But I just found out the flooring and beam under the bathroom has been water damaged, we got told the damage has been for years, obviously the previous owner wanted a cheap job, that's one thing, I asked the inspector why this has not been picked up during inspection and he said he didn't check that, which was quite obvious from underneath even I picked it up. I have a quote to fix this properly I need to redo the bathroom and gonna cost me $6000-$7000, and I am totally broke!
So I am asking what are my options??? Thanks heaps!

[speights boy]

The New Zealand Standard (NZS 4306:2005 Residential Property Inspection) was introduced to create consistency and reliability to the building inspection industry by giving minimum requirements for inspections and reports.

One of the requirements of this Standard is that building inspectors must have up-to-date professional indemnity insurance. This insurance will cover you if, for example, a poor assessment of the property is given or the inspector damages the property during the inspection.

It is important that whichever building inspector/inspection company you choose has up-to-date and adequate public liability and professional indemnity insurance that covers damages and legal costs.

https://www.hobanz.org.nz/buying-a-home/194-buying-or-selling-a-home/326-building-inspection-report.html

[speights boy]

www.buildingtoday.co.nz/MagazineArticle.aspx?id=996

Liability of pre-purchase house inspectors

Written By: Tim Bates and Sarah Wray
Tim Bates and Sarah Wray of Auckland law firm Legal Vision discuss a recent decision of the High Court which is a must read for pre-purchase house inspectors.

Section 9 of the Fair Trading Act ???

https://www.legislation.govt.nz/act/public/1986/0121/latest/DLM96901.html

[variable]

Thanks for your advice.

[speights boy]

Just remember.
For a case to be considered by the Disputes Tribunal, there must first be a dispute.

https://www.justice.govt.nz/tribunals/disputes-tribunal/about-the-tribunal/when-the-disputes-tribunal-can-help