Hi all,
Early last year, I bought my first ever property, an off-the-plan townhouse in Melbourne. Two weeks ago, the vendor informed me that the property is ready for final inspection in early March. Today, the vendor informed me that the plan for subdivision is likely to be in April and settlement will take place 14 days later.
I thought this is quite strange, how come there is such a big time gap between final inspections and settlement? I thought when it is ready for final inspections, it is probably ready for occupation and settlement should come quickly. Is this normal?
I am going to Melbourne next week for a 3 months break after a long overseas work assignment so I thought about the possibility of moving in prior settlement to save some short term accomodation cost. I have already got all the finance sorted out and like to hear any experiences first before requesting the vendor to allow me to move-in before settlement since it will be sitting there empty for most of my time in Melbourne!
Thanks!
Early last year, I bought my first ever property, an off-the-plan townhouse in Melbourne. Two weeks ago, the vendor informed me that the property is ready for final inspection in early March. Today, the vendor informed me that the plan for subdivision is likely to be in April and settlement will take place 14 days later.
I thought this is quite strange, how come there is such a big time gap between final inspections and settlement? I thought when it is ready for final inspections, it is probably ready for occupation and settlement should come quickly. Is this normal?
I am going to Melbourne next week for a 3 months break after a long overseas work assignment so I thought about the possibility of moving in prior settlement to save some short term accomodation cost. I have already got all the finance sorted out and like to hear any experiences first before requesting the vendor to allow me to move-in before settlement since it will be sitting there empty for most of my time in Melbourne!
Thanks!