Embarking on the final stages of purchasing a property, a pre-settlement inspection is a vital step that should not be overlooked. This crucial inspection usually occurs a few days before the settlement date, ensuring the property is in the agreed-upon condition before you officially take ownership. It provides a last opportunity to verify that the property is as expected, addressing any last-minute issues or discrepancies. By conducting a thorough pre-settlement inspection, you safeguard your investment, ensuring that any necessary repairs are completed, fixtures and fittings are intact, and the property’s condition matches what was agreed upon in the contract. This process not only protects your financial interests but also ensures a smoother transition into your new home, avoiding any unpleasant surprises after the settlement is finalized. Below is what you should be doing at the pre settlement inspection to make the most out of the time you have and potentially save you money.

1. Property Condition Check

The primary purpose of a pre-settlement inspection is to ensure the property is in the same condition as when you agreed to purchase it. This involves a thorough walkthrough to check for any new damage, wear and tear, or changes that may have occurred since the initial inspection. Look for things like cracks in the walls, broken windows, or water damage that might have developed over time. This step is crucial to confirm that the property meets your expectations and there are no surprises when you move in.

2. Completion of Agreed-upon Work

If there were any repairs or maintenance tasks that the seller agreed to complete before settlement, the pre-settlement inspection is the time to verify that these have been done. This might include fixing leaky taps, repairing holes in the walls, or other agreed improvements. Ensure that all work has been completed to a satisfactory standard. If any tasks have not been completed or are subpar, you can address these issues with the solicitor/conveyancer before finalizing the purchase.

3. Fixture and Fittings

During the inspection, check all fixtures and fittings included in the sale to ensure they are present and in good working order. This includes appliances like ovens, dishwashers, and refrigerators, as well as other items like light fixtures, window coverings, and built-in wardrobes. Make sure nothing has been removed or replaced with inferior items. Test appliances to confirm they are functioning properly and note any discrepancies that need to be addressed.

4. Documentation Review

Bring along any relevant documentation, such as building reports, pest inspections, or if you are purchasing an investment property the property condition report, to review during the inspection. Compare the current state of the property with these reports to ensure there are no new issues that were not previously identified. This helps to ensure that the property’s condition aligns with what was initially agreed upon and documented.

5. Resolution of Issues

If you discover any issues during the pre-settlement inspection, this is the time to resolve them. Raise any concerns with the seller’s agent immediately and you will also want to inform your solicitor/Conveyancer. You may negotiate for repairs to be completed, a reduction in the purchase price, or other compensations. Addressing these issues before settlement helps prevent future disputes and ensures a smoother transition into your new property.