What to look for at a pre-settlement inspection?
A pre-settlement inspection allows you to inspect the property before the final payment. Although this inspection is not compulsory, we highly recommend you do it. You will want to utilise this opportunity to check nothing has happened to the property since you first signed the contract.
These inspections let you make sure everything on the property is up to safety standards and is working correctly. For instance, you have the right to ensure the pool hasn't turned green, the lawns and gardens haven't died and that the carpets or curtains haven't been removed.
When you are purchasing a new home, it can be easier to get excited and overlook the minor details. However, if you don't point out the faults of the house during the inspection, you may miss your opportunity to get them repaired.
Take your time when looking over the home for faults or defects. If your unsure of what you should be looking out for here is a list of everyday things to check.
Usually, the pre-settlement inspection is conducted one week before settlement day. But you are generally able to negotiate to when is most convenient for you and the owner.
Pro tip: You don't want to do your pre-settlement inspection to far away from your settlement date. If something gets damaged after the inspection, it is doubtful it will get it repaired. You also don't want to do it a couple of hours before settlement. You will need time to fix any outstanding issues that you may have missed or not been aware of.
Be careful if you claim to have found new damage to the property; it doesn't necessarily give you the right to withhold on the settlement. You must prove that the damage breaches the conditions stated in the contract of sale. Deterioration may be a result of wear and tear, or the buyer may have missed it before they signed the contract.
If however, there is significant new damage to the property, the seller may be in breach of contract and may be required to repair the issues before settlement. Your Conveyancer or solicitor is the best person to talk to in this situation.
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