Posted on 11 OCT
Some careful planning and a thorough inspection can make the difference between a smooth settlement and an expensive, frustrating or delayed one.
A final inspection is legally your opportunity to inspect the property prior to settlement to ensure it is in the same condition as the day you purchased it, but what does that really mean?
Basically, it means that you must be satisfied that the vendors are leaving the property vacant of their possessions and in as-inspected condition. You don’t want to move in and find a pile of old paint cans to get rid of or patch up the hole in the wall where they removed their TV bracket.
We recommend that your final inspection takes place three to five business days prior to settlement. If there are items of concern this time frame allows for everyone to sort it out without a mad rush at the end between the solicitors.
When you book this in with your real estate agent, remember to ask if the gas and electricity will still be connected in order for you to test the electrical appliances. Be prepared with the contract conditions so you know what chattels are included or excluded.
If you see obvious damage, take a photo of it and report it to the agent and your legal representative on the day. If the vendor says they are not going to fix/remove the item, then talk to your agent, and report it to your solicitor. It is unlikely that settlement will be held up for a few paint cans but sometimes vendors do need to be reminded of their legal obligations.
Some tips on what to look for in your final inspection:
That’s a quick run down for you, but as always, if in doubt, ask your solicitor.