NSW Property Law - When to Carry Out the Final Inspection?

[Icing]

During the purchase of a property off the plan under property law:

1. When do purchases normally carry out the final inspection before settlement?

2. At what stage would a building expert be engaged to inspect the quality of the property before settlement?

 

[Rob Legat - SBPL]

What state you're in may affect the outcome for you, but generally the terms of the contract will provide you with answers to these questions.

 

[Icing]

What state you're in may affect the outcome for you, but generally the terms of the contract will provide you with answers to these questions.

We are in NSW.

The term in the contract says something like inspections can be carried out between completion and settlement, but it doesn't say how many times. I'm planning to engage a building expert to inspect the property on our behalf as early as possible to avoid delay in settlement. However, what if our property gets damaged between the last inspection and settlement? Is it a common practice that I should arrange a final inspection on the day of the settlement?

 

[Rob Legat - SBPL]

New South Wales' conveyancing process is quite different to Queensland (where I practice). Here, our 'standard' REIQ contract allows up to four instances of inspection once the contract is formed (to check any meters, for a building/pest/pool inspection, to value the property, and once to inspect the property before finalisation).

Off the plan contracts are generally a fair bit different. I would say that unless it says more than one, you'll get one. But as long as you're reasonable, you may get more than one.

You'll probably need to ask for permission to have a building inspection done; as I doubt it will be in the contract (unless that's a particular thing to NSW).

If you're going for just one inspection yourself, I suggest the day of/day before.

As to damage, check the contract to see whose risk the property is at from the date of contract. If it's a strata development, the insurance is likely to be in place in the name of the body corporate already.