Hi, need your help as we are buying our first property.
We need to do a final inspection before settlement date and we dont know what we should be inspecting .
Also when should the keys to the property be given to us and who should give them to us – the seller's real estate agent or our settlement agent?
Also which is the best method for paying the settlement costs( purchase price plus settlement costs) if it is a cash sale – bank cheque, or bank transfer, to settlement agent's trust account?
Thanks in advance for all your helpful replies.
Hi propertybee
You basically want to ensure that the property is in the same condition as when your offer was accepted.
Settlements usually occur in the afternoon – so you could expect the keys later in the day.
Bank cheque is generally the easiest.
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]
Others may be able to add but for Final inspection I would look ensure:
Property is clean & tidy and carpets etc in the same condition as initialy inspected
Note that furniture maybe covering up damage to the walls etc however preferably should have been identified in earlier inspection
Fixtures and fittings are as expected, has been known that light fittings and even Kitchen appliances etc have been replaced with lesser quality items prior to settlement
Garden is also neat & tidy with any 'Junk' etc removed or to be removed, also ensure that plants have also not been removed, pot plants are usually not included unless previously arrangedKeys to the property are usually provided by the selling agent once confirmation of settlement has been made however they are also sometimes handed to your solicitors/conveyancer at settlement. Speak to the agent and make/clarify arrangement for this
For a cash sale i.e. no lender involved, your solicitors/conveyancer should make arranges for you to deposit sufficient funds to their Trust a/c for settlement or you can also provide a Bank cheque. If you are borrowing arrangements can be made with your lender for the additional funds i.e. your contribution in addition to the loan and/or your funds may be given to your solicitor/conveyancer.
When in doubt talk to your solicitor/conveyancer as they are the people you are paying to arrange settlement, they should be able to advise in all the above
Thanks for your helpful replies.
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