Role of Property Lawyers in Pre-Settlement Property Inspection
Purchasing a new property is
a complicated task and before finalising a deal, so many steps are there to
take. Often, buyers as well as sellers are not aware of all of them and this is
why they consider relying upon real estate agents or even property lawyers. In
most of these cases, property lawyers are a better choice because they are
fully acquainted with the relevant laws, rules, terms and conditions to follow
in the process of purchasing a property. A very important step in this process
is pre-settlement property inspection and here in this article, we will cover
this topic and also the role that these lawyers play in this process.
What Is A Pre-Settlement
Property Inspection?
Pre-settlement property inspection
is a kind of final inspection or the opportunity given to the buyer party to
inspect the property for the last time. This inspection is allowed to make sure
that everything claimed by the seller party is there, working in order and since,
this is the last inspection, it can also be assumed as the last opportunity to negotiate.
This process is usually carried out before the final payment is made and the day
is given the name of settlement day. In other words, this process is an opportunity
for the buyer party to examine the property and ensure that everything is in
the same condition as it was when the contracts were exchanged. This inspection
can be done through DIY, but expert solicitors Blacktown recommend seeking the
services of property experts for even better results.
Things To Check During A
Pre-Settlement Property Inspection
Here is the list of things to
check with the help of property experts at the time of pre-settlement property settlement.
•
Plumbing
•
Lights And Electronics
•
Water Heaters
•
Air Conditioners And Heaters
•
Checking For Pests
•
Appliances
•
Curtains And Blinds
•
Pools And Spa Filters
•
Windows And Glass
•
Smoke Alarms
•
Door Handles And Locks
Apart from these things, it is
also the right as well as the duty of the buyer of property lawyers from the buyer side to check whether the property
includes all the items that the vendor said they would leave. All these things
are mentioned in details in the contract of sale and termed as "INCLUSIONS".
Things To Look For In Detail
According to solicitors
Blacktown, so many major and minor things are there to check during this
inspection and we have covered the top ones here.
Any Damage To Property
If there is any damage to
property, including damage to walls and floors in any part of the property both
inside and outside.
Fixtures
A detailed inspection should
be done for permanent fixtures such as carpets, windows, doors, curtain tracks,
smoke alarms, electrical connections and plumbing connections.
Wear And Tear
It is not an obligation for
the seller to clean the property, but it would be good for him, if the property
doesn’t show any signs of wear and tear. But yes, it is the obligation to keep
the lawn as well as the swimming pool maintained as per council laws.
Non-Fixtures
All removable furniture is
non-fixtures and they should be inspected before the settlement day and this
should also be ensured that fixed appliances like cooling systems and heating
systems are in working order.
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