Flat Rate Settlements

Settlement lawyers Perth WA

Your pre-settlement inspection is important

You’ve bought the house and settlement date is fast approaching. There are many things to organise, but don’t forget to inspect the property prior to settlement. As the Buyer, you may inspect the property within 5 business days before the date of possession or settlement [Clause 5 of the 2011 General Conditions]. The seller’s real estate agent usually arranges the inspection at a time convenient to both parties. You may be accompanied by 2 people at the inspection.

What to look for

Check that the property condition is unchanged. The seller must remove all vehicles, rubbish and chattels from the property before the buyer is given possession. Save for this, the property must be in the same condition that it was immediately before the contract date.

You should also check that any special conditions have been satisfied; for example, many contracts provide that electrical, gas and plumbing fixtures and fittings are in working order or that the seller has attended to any necessary repairs.

Raise any concerns about the state of the property with the seller’s real estate agent in the first instance.  Generally the real estate agent will liaise with the seller to resolve any queries prior to settlement.  Also keep keep your settlement agent or settlement lawyer  informed as necessary.

Under the  General Conditions you are not entitled to a second or subsequent inspection prior to settlement; nevertheless, the parties may agree on a further inspection.

Michael Hodgkins

Michael has been a partner of Birman & Ride since 1 July 2009. He leads the firm’s family and property law teams which offer a broad range of services including real estate settlements, property and commercial law, family law, wills, estate planning, probate and estates. The firm is a… View full profile »

Telephone: (08) 9220 4455 | Email: mh@birmanride.com.au

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