NSW Tips: The final house settlement checklist!

Discussion in 'Where to Buy' started by SteffS, 29th Mar, 2021.

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  1. SteffS

    SteffS Well-Known Member

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    Hi Guys,
    Our IP (a townhouse) settlement day is fast approaching (after 3days) and our building and pest inspections went well. So we have arranged for an inspection pre-settlement which is happening in couple of days. Soooo excited about it

    Thus we are looking for some kind of final house settlement checklist. Do you guys have some list which I can just print and do the checks one by one during that time. I miss some things or might spend too much time on something which I shouldn't have to, so I appreciate your inputs or tips on this matter.

    Thanks
     
  2. SteffS

    SteffS Well-Known Member

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    And typically how much time (on avg) people spend in doing such inspection?
    I understand we shouldn't rush, but currently the house has tenants so what time frame they get from agency?
     
  3. Mel Morgan

    Mel Morgan Sydney Property Manager Business Member

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    Given tenants already reside in the house and its an existing dwelling, there's actually not a lot to check. I would ask the tenants if all of the appliances, plumbing and electricals are working well, and if there's been any recent leaks or other issues that haven't been repaired.

    If you have a new property manager, I would definitely take them along to see the property and build a relationship with the tenants.

    I would then also make sure the rent is accounted to you from day following settlement and you have a copy of the lease, entry condition report, ledger and tenancy application.
     
    Stoffo likes this.
  4. jaybean

    jaybean Well-Known Member

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    I don't think I've ever performed one with any property I've ever purchased.
     
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  5. RENI99

    RENI99 Well-Known Member

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    You are checking that it is in the same state that it was when you bough it plus items in the contract included are there (chatels) and as expected -> so no unexpected damage or fixture removed etc. Are tenants staying on or are you moving in? If their stuff is still there you will not be able to identify as much as if its empty.
    We have had a few surprises over the years -> rubbish left under the house, one where the painting inside the house was done around the pictures -> all of which we dealt with with no compensation as we did not identify as part of preinspection. Also if not cleaned when you inspect clarify what the plan is there as if you need to organise cleaners you need to know well in advance to organise.
     
  6. hash_investor

    hash_investor Well-Known Member

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    Where did you end up buying?