What to expect at a pre-settlement inspection?

What is a pre-settlement inspection?

A pre-settlement inspection is your buyer’s opportunity to inspect your property before the final payment is made. These inspections are not compulsory, but buyers usually want to use the opportunity to check nothing untoward has happened to the property since they signed the contract. It also reassures the buyer that you as the seller have addressed any specific conditions that were included in the contract or agreed on when the deposit was paid.

In a nutshell, buyers are entitled to ensure the pool hasn’t turned green, the lawns and garden haven’t died and that you have haven’t removed the curtains and carpet.

What do buyers look for during pre-settlement inspections?

Most of the time buyers, are pretty excited about their new purchase and are just wanting to get a feel for their new home. Often they want to measure up spaces for their furniture or to work out what colour to paint the walls.

When is the pre-settlement inspection completed?

The pre-settlement inspection is usually conducted one week before settlement day, but in some cases it may take place only a few hours prior to settlement. The advantages of doing this a week out, is that it allows you enough time to fix any outstanding issues that you may have missed or not have been aware of.

How many pre-inspections can the buyers do?

General conditions states that a buyer can complete one inspection, therefore if they are bringing along tradespeople it is up to them to coordinate the relevant tradespeople to attend the one inspection.

Buyers are allowed one further inspection if they identify items that require rectification.

Who can attend the pre-settlement inspection?

The buyer can be accompanied by 2 people unless you give them permission to bring more.

In many cases we will attend the inspection with the buyer. They often ask if you can also attend the inspection as it’s a good opportunity to run through how the property works. However, it is up to you as to whether you attend or not.

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What happens if the buyer finds some issues?

If the buyer claims to have found new damage or deterioration, it doesn’t necessarily give them the right to withhold on settlement. They must prove that the damage breaches the conditions stated in the contract of sale. Deterioration may just be a result of wear and tear or the buyer may have missed it before they signed the contract to sell your house fast in Miami Dade.

If, however there is significant new damage to the property, you may in breach of the contract and may be required to repair the issues before settlement. Your conveyancer or solicitor is the best person to talk to here.

The power of a floor plan

One of the most effective sales tools and one that is highly sought after by buyers is a floor plan of your property.

What is a floor plan?

A floor plan is a drawing to scale that shows a room as seen from above. It shows the relationships between rooms, spaces and other physical features of each level of a building. Dimension are also drawn between the walls to specify room sizes and wall lengths.

Floor plans are promoted on website portals, in image carousels and included in your property’s promotional material that is distributed at open for inspections and via other sales channels.

Plans and open for inspections

Pre inspection, a professionally drawn floor plan showing the complete layout of the property, helps buyers understand how the property flows. It’s a key tool to help them visualise how the space could potentially work for them and to assess whether there is any flexibility to make changes down the track if their needs shift.

Post inspection, the floor plan is a great reminder of the layout and it enables serious buyers to map out their furniture placement. Once they start to visualise their things in your property you’ll find their passion for your property increases. Passionate buyers are an important ingredient for a successful sale.

Don’t worry if the layout of your property isn’t perfect, the floor plan enables potential buyers to see how the interior could be modified to make it more suitable for their needs. For instance, your kitchen may be located in the centre of the property with no flow out to the garden. Today’s buyers often love the inside / outside flow of a property and by using the floor plan they can see what changes they could make to the layout to create their perfect property.

The buyers information hunt

As you may remember when you bought your own property, buyers want as much information as they can find on a property they are looking at buying and a good floor plan is an essential and valuable marketing tool that helps complete the information on the property.

The floor plan enables would be buyers to piece together the photos and to determine what room sits where and how it relates to the rest of the property. It also shows detail like where the windows are positioned, how the kitchen and bathrooms are laid out, whether there is any built storage, which way it orientated (as the North symbol is always included) and if it’s a house, how it is positioned on the block. The intersection between the photos and the floor plan helps buyers ‘make sense of the property’ which is key to getting them to an open for inspection.

How are floor plans created?

Most photographers will also be responsible for creating the floor plans. Using accurate laser measurements of each room they create a detailed ‘to scale’ floor plan featuring room dimension and total property size. Some floor plans show the homes footprint on the block.

Different types of floor plans

There are a few different types of floor plans so it’s a good idea to talk to your agent about which one they think would be best for your property.

The most basic plans are simply drawn in black and white, however you can also get colored options that help make the property stand out and ones that include textured finishes such as decking or tiling.