Pre Settlement Inspection/Final Inspection

lilyesp on 19/09/2022 - 23:12

Hoping someone could help me out

-when would one do a pre settlement inspection- i always thought it would be done once the vendors have moved out so you can inspect the property properly, especially if there are any damaged walls etc when they were moving stuff out?
If this is the case- what if vendors plan to move out on the date of settlement- then how would one approach to do the final inspection- like few hours before settlement time? But then wouldnt it be difficult to get things fixed prior to settlement?

Any thoughts?
Lily : )

Home & Garden

Comments

  • elgrande on 19/09/2022 - 23:24
    +3

    Morning of settlement is always reccomended.

    • lilyesp on 19/09/2022 - 23:33

      if there are issues- then can the contract be changed to fix these things before settlement time or can the settlement be delayed because of it without penalty

      • jolee3 on 20/09/2022 - 11:04
        +1

        If it's something that can't be fixed on the spot, you can negotiate a reduction on the final cost to cover what you'll need to repair. It depends on the severity of the issue.

      • parsimonious one on 24/09/2022 - 11:44

        I’m interested to know how this works too

        If you do it on the morning of settlement and there is an issue, how do you get it resolved prior to settlement?

        IIRC if you as the buyer delay settlement, then aren’t you liable for penalties?

  • MeesusEff on 19/09/2022 - 23:30

    We just sold out last week, once the finance approval came through we were happy with anytime prior to settlement so they did it 1 week before. Only had a blown light bulb and what they thought was a faulty spa heater (we just forgot to turn it on earlier but it was fine). If there were faults found, you could note that they fix it even after settlement IANAL though, that's just what we were willing to do

    • lilyesp on 19/09/2022 - 23:33

      though what would happen once they move out there are damage caused with the moving youre not aware of?

      • MeesusEff on 19/09/2022 - 23:40

        Oh I was the seller. My bad, and we did have staging furniture when the buyer looked, luckily they didn't damage anything when they picked up the stuff.

  • yellowfever on 20/09/2022 - 06:41
    -1

    You wou negotiate with vendor that you need a week with property vacant to inspect prior to settlement

  • AndyC1 on 20/09/2022 - 08:17
    -1

    A week and two days before settlement as you need to leave enough time for things to get fixed, but as close to settlement day as possible.

    As your lawyer or conveyancer which day is best.

  • JimmyF on 20/09/2022 - 08:25
    +6

    Pre Settlement Inspection/Final Inspection

    What did your lawyer/conveyancer say when you asked them? They do this every day, they'll know.

    • Seraphin7 on 20/09/2022 - 09:25

      Who'd a thunk to speak with professionals (who you are already paying) would have advice on matters that crop up in every other settlement?

      Separately, it would be somewhat unusual (although not impossible) for the vendors to literally be moving out on the day of settlement. IANAL, but my basic understanding is once settlement is confirmed, you can effectively lock out the vendor. Sure they might be moving out the last few things, but from the vendor's perspective this seems to be a somewhat risky move if for whatever reason the move falls through. It might be worthwhile confirmed exactly what is meant by "moving out" on the day of settlement.

    • SF3 on 20/09/2022 - 09:33
      -1

      What did your lawyer/conveyancer say when you asked them?

      If OP had to ask the question, OP needs a new lawyer/conveyancer.

    • parsimonious one on 24/09/2022 - 11:47

      I think you are overestimating how much the conveyancer gives a sh!t

      As you said they do it all the time (so have a bit of a she’ll be right attitude), it’s not the biggest investment of their life and the sooner the sign off and get paid the better for them

      • JimmyF on 24/09/2022 - 11:51

        I think you are overestimating how much the conveyancer gives a sh!t

        No at all. But it is part of their job.

        As you said they do it all the time (so have a bit of a she’ll be right attitude), it’s not the biggest investment of their life and the sooner the sign off and get paid the better for them

        Its not their investment, so sure they don't care about the outcome, but they certainly would be able to answer the OPs question of WHEN to do the pre settlement inspection.

        • parsimonious one on 24/09/2022 - 11:56

          Sure, but I still don’t understand why you have an issue with the OP asking the question on the forum

          If the conveyancer could be relied upon to put the clients interest first and if there was an undisputed optimal time then there wouldn’t be the uncertainty and conjecture around the issue that there clearly is, as everyone seems to have a slightly different opinion

          • JimmyF on 25/09/2022 - 09:22

            @parsimonious one:

            If the conveyancer could be relied upon to put the clients interest first and if there was an undisputed optimal time then there wouldn’t be the uncertainty and conjecture around the issue that there clearly is, as everyone seems to have a slightly different opinion

            You assume the OP has even bothered to ask and was then useless. So back to my first post on this topic.

            What did your lawyer/conveyancer say when you asked them?

            As you can't really make claims like you are, without knowing this.

            • parsimonious one on 25/09/2022 - 20:49

              @JimmyF: No, I assume the OP is curious what people on the forum think.

              If the OP’s question was “what would my conveyancer say is the best time to do the pre-settlement inspection?” then you’d have a point

              • JimmyF on 25/09/2022 - 22:12

                @parsimonious one:

                If the OP’s question was “what would my conveyancer say is the best time to do the pre-settlement inspection?” then you’d have a point

                No, the OP asked when the best time to pre-settlement inspection, the answer is, what did your lawyer/conveyancer say.

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