When to do a final inspection?

[Princess]

If we have a settlement day in a week, how many days prior to that date the final inspection is good to be done (from our perspective)?

I mean we can (agent allows this as I understood) to inspect it any time this or next week.
Is where any difference for us if we inspect it closer to / a-week-prior the settlement date?

Personally I would inspect it this week because I have time to do it.
I think nothing will be (badly) changed in the property by the vendor till the settlement date, but i'm not sure whether i should be so trustful But personally I feel ok about the vendor and the agent.

Are there any general "rules", suggestions, experience about final-inspection date?

Thanks a lot in advance!

 

[The Y-man]

We usually go in about 3 days prior - gives them time to fix things (just)

Cheers,

The Y-man

 

[jcwc888]

Make sure there are keys to all locks.. and no leftover furniture and garbage.

i got caught there were 2 locked windows.

leftover cabinets and furniture.

 

[jezza]

Princess

I try to give them about a week ( depending when settlement ) if the owner still lives there I like 8am Saturday and if tenanted usually on a Thurs or Fri afternoon. I like to give them a weeknd to fix a few things up. They may call my bluff but I take a camera for about 30 shots for depreciation purposes and they I think believe its so I am varifying my problems. If you have had a bulding inspection done make sure you take this so you can see all the little things on the report

Jezza

 

[Princess]

Thank you guys a lot!

 

[Propertunity]

We do this as a free service for our clients.The earliest we'd do it is 24 hours beforehand but generally we do it at 10:00am the day of settlement if the settlement is scheduled for 2:00pm or after.

That gives us 4 hours notice to pull the settlement if it is no good, which is plenty of time to give notice to the settlement agents.

It puts the pressure on the vendors to make sure everthing is OK.

 

[andrew_de_a]

Princess

I try to give them about a week ( depending when settlement ) if the owner still lives there I like 8am Saturday and if tenanted usually on a Thurs or Fri afternoon. I like to give them a weeknd to fix a few things up. They may call my bluff but I take a camera for about 30 shots for depreciation purposes and they I think believe its so I am varifying my problems. If you have had a bulding inspection done make sure you take this so you can see all the little things on the report

Jezza

what problems would you be referring to? i would have thought that you would have bought the property as inspected so if there are any 'issues' then they would need to have been specified in the contract of sale.

 

[jezza]

Andrew

Last property I bought, when I did the inspection there was now a divit into a wall, 1 of the door hinges had completely come off on a bedroom door and the starter was not working on the oven/hot plates. I pointed out to the owners ( still there) and the REA this and all 3 were fixed and they also did a steam clean throughout the whole place. None of those things were mentioned in inspection report/when the property was bought. Now I am not a legal guru so I can't say whether they are legally required to fix them. The fact of the matter is they did fix them because I gave them 5 days to do it.

This is not a one off the same thing has occured at previous places aswell

I am sure Propertunitys' way works for him/her but I rather prefer to settle on the day than take the chance


Jezza

 

[Propertunity]

One of the reasons we do it at the absolute last minute is that we've found vendors can take stuff....shock horror!

We had a divorcing vendor actually dismantle and remove a BIR out of a bedroom while at the same time leaving behind $100's worth of pool chemicals. What the?

We had another vendor claim to have no front door key at our final inspection, the morning of settlement. This meant that the property for an interstate investor client could not be locked securely. When we said, no front door key, no settlement, the vendor magically "found" a key that fitted as she rummaged through her handbag.

Based on her previous actions, I'd be surprised if there were any appliances left by the next day

The list goes on. But I'm not authorising final payment until the final hours before settlement....sorry.

 

[Fudge]

One of the reasons we do it at the absolute last minute is that we've found vendors can take stuff....shock horror!

We had a divorcing vendor actually dismantle and remove a BIR out of a bedroom while at the same time leaving behind $100's worth of pool chemicals. What the?

We had another vendor claim to have no front door key at our final inspection, the morning of settlement. This meant that the property for an interstate investor client could not be locked securely. When we said, no front door key, no settlement, the vendor magicallg "found" a key that fitted as she rummaged through her handbag.

Based on her previous actions, I'd be surprised if there were any appliances left by the next day

The list goes on. But I'm not authorising final payment until the final hours before settlement....sorry.

Exactly prop.

I'm with you here.

As late as possible.

What would happen if the deal didn't go through based on a person inspecting the property and identifying damage, missing items, etc.

Would they lose their deposit, or considering it is a legitimate issue, can the purchaser walk away from the deal without incurring any costs. (Cause I guess that is why they have a final inspection)

Cheers,

F

 

[Propertunity]

What would happen if the deal didn't go through based on a person inspecting the property and identifying damage, missing items, etc.

I delayed one 3 or 4 times. The vendor had rubbish stockpiled in the back yard and a house full of second hand furniture.

Just dealyed and delayed - so vendor getting no rent + still paying mortgage interest - this puts financial pressure on.

Next step was to be a 14 day notice to complete but it did not get to that stage, thankfully.

 

[JDM]

I agree with propertunity on this one. Leaving the final inspection to the last minute covers yourself from any damage that may occur between your final inspeciton and settlement. You may think you're giving them time to fix problems but you're also giving them time to create more.

Also keep in mind if it's 5 days prior, it is possibly to still have furniture in the property that can be the cause of many marked/damaged walls upon removal!