It is highly recommended that you conduct this final inspection, because you are not provided with the opportunity to fix any issues that you may have picked up at the final inspection after settlement occurs.
Why complete a final inspection?
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Allows you to ensure that the property you saw when you signed the contract is still substantially the same, without any damage occurring.
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You can ensure the previous owner has not left rubbish or old furniture, and that the property will be vacant by settlement, unless you are purchasing it subject to a lease.
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You can also ensure that everything is in working order and that there is no major damage to the property.
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You are also able to ensure that any special conditions included in the contract have been met.
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If there are any major concerns you can ask your conveyancer to speak to the Vendor about fixing the damage.
When should the final inspection be conducted?
You should reach out to your agent at least 2 weeks prior to settlement to organise a final inspection.
Your options after final inspection
It is important to note that the Vendor is not obligated to fix every issue that you come across. Typically issues considered to be minor or fair wear and tear by the ordinary use of the premises will not be fixed by the Vendor.
If the damage is more than fair wear and tear and the Vendor refuses to fix the damage, you are entitled to take action after the property has been settled and/or receive compensation, but you are not allowed to delay settlement.
Most damage you find during the final inspection does NOT give you the right to delay settlement or withhold funds at settlement. You should contact us, your conveyancer, to clarify whether the damage is a breach of the contract of sale. We can contact the Vendor’s conveyancer and relay your concerns.
Generally, the property needs to be in the same condition it was when the contract was signed, with an allowance for fair wear and tear. If there are minor issues noticed during the final inspection, it is best to speak to the agent or Vendor as they can often be resolved easily. However, if there are serious issues that you discover, it is best to contact your conveyancer to determine your rights under the contract.
However, if you notice substantial damage to the property that was not present during the initial inspections (eg – a broken sink or door) at the premises your conveyancer will be able to seek that the Vendor fixes the issues prior to settlement
