Before you sign on the dotted line…
Buying a new home is one of the most significant financial decisions you will ever make, so it’s important you know your obligations and commitments every step of the way.
You are excited to finally be getting a place you can call your own. You don’t want to miss anything or pay more than you should, so always use the services of an expert Sydney conveyancer to help you take care of the many details, which includes the pre-settlement inspection.
What is a pre-settlement inspection?
A pre-settlement inspection occurs after you have signed a contract but before settlement. It’s a critical step because it ensures the vendor is holding up their end of the contract.
A home buyer is entitled to take possession of a property in the same or better condition than when it was initially inspected, including goods and chattels. For example, if you purchase a property with a garden shed, but the vendor removes the shed after you sign, you may be entitled to compensation.
What does the pre-settlement inspection involve?
An inspection covers more than just the appearance of the property. It also needs to ensure that all features of the property are in good working order, including appliances like:
- Smoke detectors
- Stoves and ovens
- Swimming pools
The inspection will also check the plumbing to ensure toilets flush, taps flow, and sinks and drains are working.
Other items to include in a pre-inspection check include:
- Doors and door locks
- Garage doors
- Windows and window locks
- Air conditioners
- Hot water systems
- Ducted heating systems
- Light fixtures.
When the property falls short of the conditions listed in the contract you are within your rights to seek compensation from the seller. Therefore, it’s critical that everything you expect is covered in the contract. If something is missed, the pre-inspection won’t protect you.
There are a lot of details to account for, which is why you should always team up with a professional Sydney conveyancer because they are experts at making sure nothing is missed.
Need help in buying a house in NSW?
You can make the whole process go a lot smoother by working with an established Sydney conveyancing service. Platinum Conveyancing Services will always put your interests first and won’t add any hidden surprises. We also offer FREE contract reviews in order to alert you of potential property issues before you commit. We welcome you contact us today.