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What do I look for when doing the final inspection prior to settlement of the property I am buying?
Oct 10, 2022, 15:49 PM
Title :
What do I look for when doing the final inspection prior to settlement of the property I am buying?
The purpose of the final inspection is to ensure that the property is in the same state and condition that it was in immediately prior to signing the contract.
The seller in the Joint Form of General Conditions at section 9.1(e) has made a representation to the buyer that the property at settlement will be in the same condition as it was in immediately before the Contract Date.
The purpose of the final inspection is not to find minor faults with the property and then expect the seller to fix those items.
The buyer, prior to submitting an offer, should have made themselves familiar with the state and condition of the property and noted any discloses by the seller through their real estate agent about the state and property.
The buyer would also be looking to ensure that the seller has complied with any special conditions on the contract. For example the seller may have agreed to repair a cracked wall.
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