Buying Property? Don’t miss this crucial step before settlement: Pre-Settlement Inspection

You have the option to complete a pre-settlement inspection of the property on one occasion prior to the settlement date.

Why It Matters:

A pre-settlement inspection lets you check that:

• The property is in the same condition it was when you signed the Agreement and reflected in the Builders Report (if one was obtained).  Therefore, it is important that you check the property thoroughly when putting in your offer - Caveat emptor (buyer beware).

• Any agreed repairs have been attended to.

• Nothing has been damaged or removed.

Most importantly, notice of any issues must be reported in writing to the vendor’s solicitor before 5:00pm the day prior to the settlement date.  After that, it is too late.   

Who Organises It?

The Real Estate Agent should be in contact with you to arrange a time to complete the pre-settlement inspection. However, if you have not heard from the Real Estate Agent, get in touch yourself.

Quick Tips:

# Do your inspection at least 2 days prior to the settlement date and advise the purchasers solicitor of any issues immediately.
# Follow up with the Agent if they don’t contact you to arrange a pre-settlement inspection.

Final Word:

Don’t leave it to chance — inspect, protect, and settle with confidence.