I have purchased an off the plan 2 years ago and settlement is coming soon. Does anyone have experience if it is a good idea to pay and get a property inspection done before settlement? If yes, then how much will I need to spend and what types of inspection is needed? Any recommendations?
Hi Asou,
I read your question and had to share my experience. The answer to your question is YES YES YES.
I have recently done the same and at the last minute decided to have a building inspection done and I am so glad I did.
It turns out that the gas was not connected to the mains, wiring was incomplete, oven not connected properly among other things. Thanks to the inspection I was able to force the builder to complete all these things before settlement.
I would have thought it unnecessary to inspect a brand new property as well but this has probably saved me thousands of dollars and hours in trying to chase up the builder. This cost me about $350 and was money well spent.
Just my 2 cents worth.
Good luck!
Mandy
Hi Asou,
I totally agree with Mandy, for a small outlay on a big investment. Inspections i believe are a must.You should receive full report with photos.Spend a little now and save a packet later.Yep – for sure. It’s a small price to pay for such a massive purchase. Just because it’s new doesn’t mean it won’t present with issues.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Fully agree with both. Additionally – make sure you do a proper walk through yourself and lodge both the building inspection and your defects / comments with the developer. No matter how small you think it is or not worth noting – write it down. That way at least it is on record for the follow on defect inspection (which should happen within 4-6 months of practical completion). Hope you enjoy the property.
Hi Mandy114/oncebittentwiceshy/Jamie Moore/KatarinaH
Thank you so much for your advise. I completed my final inspection like over 1 week ago. The agent left me a text the night before the inspection and so I had no time to organise a professional inspection to be done onsite. I didn’t know what I had to do and just went over the checklist based on my thought and hand it back to the agent. The agent said I have 90 days warranty after settlement. So I am hoping to get a professional to come onsite and do it one more time properly. Do you have any recommendation I can use?
Asou,
What area is your property? Other alternative is to google Property Inspections Report. There should be links for you to follow.I paid around $350 for report. Well worth it as we also had defects that needed attending too.They should report on interior as well of exterior. Let us on on how you go?it’s the new building in Blacktown. Settlement date is expected to be in 6 weeks. So, I can’t do my inspection until then.
There are companies which specialise in building reports for new builds, who know what defects can be hidden in new builds especially.
I’d definitely spend the money on it, as very small defects can cost you a LOT of money.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
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