What happens if the property is damaged before settlement?
A Seller has an obligation to take reasonable care of a property until settlement even though the property is at the Buyers risk from 5.00pm on the first business date after the Contract date.
If the property is damaged between the Contract date and settlement the Buyer is still required to settle unless the property is so damaged or destroyed that it is unfit for occupation.
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To learn more about Property Damage before Settlement, contact OwnIt Conveyancing on 1300 553 750.