A pre-settlement inspection is a critical final step before completing the purchase of a property. This inspection allows the buyer to ensure that the property is in the agreed condition, as stated in the contract, and that all fixtures and fittings are as specified.
Purpose of the Pre-Settlement InspectionThe main goal is to verify that the property is exactly as you expect before you take ownership. This is the time to check that:
Conducting the InspectionIt's typically done in the week leading up to the settlement date. Buyers should test all fixtures and fittings, check that agreed-upon repairs have been made, and ensure that the property is clean and empty unless otherwise agreed.
What to Do If Issues AriseIf problems are identified during this inspection, you can request delays in settlement or ask the seller to resolve the issues before proceeding. It's crucial to document any discrepancies and communicate them through your legal representative.
ConclusionA thorough pre-settlement inspection is essential for ensuring that your new home meets all expectations before you finalize the purchase. Taking this step seriously can prevent any unwanted surprises and ensure a smooth transition to your new home.
