Pre-Settlement Inspection Checklist For Home Buyers
Are you planning to move into your first or new home? Or are you wondering if you’ve already ticked off everything you need to do before finalising your purchase? If your answer is yes, then this pre-settlement inspection checklist will help you identify anything you may have missed before moving into your very own home.
Take Out a Full Home and Contents Insurance
Regardless of whether your property is in an area prone to natural disasters, it is always a good idea to take out full home and contents insurance. This ensures your property is protected in case of fire, storms, and other major disasters.
Additionally, significant property damage and financial loss could occur due to burglaries, vandalism, or even something as minor as a leaky pipe that could flood your home. Taking out comprehensive home and contents insurance is a crucial step when purchasing a property.
Obtain a Building Inspection Report
This process is typically done during or before the purchase. However, even if you’ve bought at auction or unconditionally, it’s still important to know what repairs might be needed or what maintenance you may need to budget for in the coming years.
Conduct a Pest Inspection
Check for any signs of termite activity. If you haven’t seen any but want to be sure, the only way is to get a licensed professional to conduct a pest inspection.
Pest inspectors often recommend a termite barrier: a preventative measure that significantly reduces the risk of future termite infestations. While this is a great way to protect your investment, it is not mandatory, and sellers are not legally required to have one in place before selling the property.
Check the Appliances
If the property includes appliances or built-in features, ensure they are in good working order. These could add significant value to your purchase price, so it’s important to check them.
Make a list of everything that needs testing for operational issues. This may include:
Kitchen appliances such as the stovetop and oven
Air conditioning and heating systems
Electric gates and garage doors
Hot water systems
Purchase Home Items in Advance
If your new home is larger or has additional rooms, you may need to purchase new furniture or household items.
A great tip is to hunt for deals and special sales in the weeks leading up to settlement. You might also explore design concepts like minimalism, which can make your home feel stylish without requiring excessive furniture or décor.
Check Cleanliness Before Handover
As part of the standard sale process, the seller must leave the property in the same condition as when it was inspected, minus the furnishings. This typically means the property should be clean, including outdoor areas such as gardens and lawns.
However, cleanliness levels may vary. If you prefer additional cleaning, such as carpet steam cleaning, it’s best to book it before moving in while the home is still empty.
Be Involved in the Sales Process
Even though you’ve hired a conveyancer, don’t rely on them to handle everything. Stay informed about:
Important dates and deadlines
Required actions from both parties
Any roadblocks that arise during the settlement process
Be Available for Paperwork
Settlement paperwork is the final step. While it may seem tedious, carefully reviewing all documents before signing is essential.
If your conveyancer is also a lawyer, they can explain any complex legal terms and conditions upfront. Understanding these details will help you avoid potential issues and even renegotiate certain terms before completing the contract.
