Pre-Settlement Inspection

man inpecting small house with a magnifying glass

As per the terms of the contract (8.2), the buyer is entitled to various inspections of the property for specific purposes. One inspection allowed is an inspection of the property prior to settlement also known as a pre-settlement inspection. This inspection is to confirm that the buyer is satisfied that the property is in the same condition as it was at the time that the contract is signed.

The contract terms outline the seller’s obligations prior to settlement (8.3) and one specific requirement is to use the property reasonably until settlement and to not significantly alter the property that will cause later expense to the buyer.

The pre-settlement inspection is not the buyer’s opportunity to raise minor issues that were present at the time that the contract was signed but an opportunity to ensure that the seller has complied with their obligation to maintain the property to a reasonable standard prior to settlement.

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Andrew has over two decades experience in high growth fast moving consumer goods, agribusiness and professional services. Supporting the Ownit team to deliver on client expectations, and implementing processes to scale the organisation, is a key focus for Andrew.

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