Pre-Settlement Inspections and why you need one
With the influx of interstate (and international) investors into Brisbane’s inner-city property market, we’re receiving numerous requests to conduct their pre-settlement inspection for them at their new apartments. When you’re buying off the plan you’re heavily reliant on the developer and their builder completing the property to a high standard so we always recommend buyers use a professional pre-settlement building inspector to protect their rights.
These are qualified builders (generally with substantial construction experience) that look past the glamour of your brand new apartment and see the errors that you would miss (examples can be seen on handovers.com). They will also liaise on your behalf with the developer/builder to save those awkward conversations and ensure you are getting what you paid for.
What is a pre-settlement inspection?
A pre-settlement inspection (or handover inspection) is usually included as a contract condition to ensure the property you have purchased is up to the standard that was advertised and agreed to. It’s vital for those who’ve purchased off the plan as they would not have been able to physically inspect the property when signing the contract and is recommended to be completed as close to the settlement date as possible.
What to look for?
- Ensuring all the appliances, fittings and fixtures are included and have been installed.
- Ensuring the appliances, fittings and fixtures are what was been agreed to.
- Testing appliances, power outlets and water is all working.
- The property is clean and no scuffs or marks that may have occurred during construction are removed.
- Ensuring the quality of workmanship is of a high standard including the painting, grouting and tiling.
- Checking the landscaping (if applicable) and ensuring it has been maintained.
The pre-settlement inspection is also a good time to ask who to contact in the event that there are any problems. Most newly constructed builds have a building guarantee period that can be enforced after settlement.
Bees Nees City Realty love working for landlords with new apartments – and we understand the importance of a pre-settlement inspection to protect your investment. For a limited time we’ll even reimburse the cost of your handover inspection if we’re appointed as your property manager (if conducted by handovers.com). Please contact Nat Smith at firstname.lastname@example.org or 07 3214 6899 for all the details!