When buying a property people are usually beyond excited when it comes to closing the deal and signing the contract (understandably – hello keys to a new home!)
But, before popping the celebratory bottle of champagne, there’s an all-important step you must be across so you don’t get a nasty shock.
The pre-settlement inspection.
Basically, this is your final chance to look at the property and ensure the vendor upholds their part of the bargain in the home handover.
Let’s take a closer look:
• The pre-settlement inspection happens after you have signed the contract, but before you settle payments and take formal control of the house.
• The onus is on the buyer to arrange the inspection but the seller must provide the opportunity for this to take place. (We recommend during the week before settlement).
• New homebuyers are entitled to receive their property in an equal or greater condition then when it was originally inspected.
• Look closely at more than just the physical appearance of the property.
• If you have any special conditions in your Contract in relation to fixing up, replacing, repairing or replacing any appliances or items in the property, make sure you test and/or inspect to ensure the Vendor has adhered to this.
• If the results of your inspection are inconsistent with the details in your contract, you may be able to seek compensation from the seller.
Having a trusted conveyancer by your side will give you the confidence that the process is moving along, and that every aspect of settlement is taken care of.
As a fully licensed conveyancing practice Sargeants Geelong can offer you full solicitor support through our internal legal department. With 40 years of experience, you can definitely place your trust in us.