Last weekend with the first home buyer to conduct Pre-Settlement Inspections
Credit to LinkedIn assistance in getting picture

Last weekend with the first home buyer to conduct Pre-Settlement Inspections

Last weekend, I was equally excited to go with my first home buyer clients to do pre-settlement inspection. I went with them as a real estate professional who will ensure that they don't miss anything in checking and documenting current and new issues.

They did their home work to create a checklist proactively from the agreed repairs and installations during unconditional contract exchange. I was impressed.

This is their Brand NEW property.

Anyone can google what to do during pre-settlement inspection. But I was there to question and notice little things to big things inside and outside home.

Real estate selling agent was there too so that he could answer any questions and clarify if its really a problem to document and notify.

I am going to mention my personal Top 3 pre-settlement tips here, especially when you are not engaging me as your buyers advocate. :) I am a real estate professional who works 100% in your interest, hand on heart with full transparency.

  1. Create a list of findings which were agreed at unconditional contract exchange. This list contains what will be fixed and what must work before you move in. It's non-negotiable. For this first home buyer couple, it was appliances to work (Gas, Oven, and Dishwasher) hot water and all switches to work.
  2. When you don't have me as your best friend and a real estate buyers advocate, your next best friend is Real estate selling agent at the time of pre-settlement home inspection. They will be present with you as they cant leave you alone at the property because of insurance and real estate law requirements. This works in your benefit that you can ask them lots of questions and request them to clarify because it is in his interest too that settlement goes through successfully. At the loan settlement, You receive keys and move in the house and selling agent will be paid commission from the vendor.
  3. You will find new defects or repairs so Take Photos, videos and Notes. During your inspection, take photos of any issues you find, even if they seem minor. Name the photo and video with the same number how you document and the room where you found. This documentation will be useful when you need to raise concerns with the seller through your conveyancer, must be fixed before settlement. This can be anything that seems out of place or different from what was agreed upon. For this buyer, one block of switches were not working. and Clothesline was not installed properly.

Conclusion

Your pre-settlement inspection is one of the final steps toward owning your first home. By being diligent and prepared, you can ensure that everything is in order before the move. Take your time, stick to your checklist, and ask any silly question to the real estate selling agent or buyers advocate. With careful attention to detail, you’ll walk into your new home with confidence, knowing that everything is as it should be. Your first home dream is coming true.

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Harleen Kaur

Strategic Business Development Executive | Driving Growth & Innovation | Project Management & Digital Transformation Leader | Specializing in First Home, Investment & Commercial Loans | Committed to Client Success

5 个月

Fantastic tips! Pre-settlement inspections can really make a difference for first-time buyers.

Raweena Raval (Jeraj)

Founder and Principal Dolla Divas Academy

5 个月

Kshama, it's inspiring to see your dedication to guiding first home buyers through their journey. Your expertise in pre-settlement inspections is invaluable to newcomers navigating the complex process. Understanding these key steps can ease stress and ensure a smoother transition into homeownership. Real estate advocacy, especially for those with busy lives, is crucial in today's market. Your proactive efforts enhance confidence and security for your clients and set a benchmark for service excellence in real estate. Looking forward to your upcoming post for more insights!

Michael Griffiths

We help service professionals add six figures a year to their business, by transforming their networks into a powerful source of referrals, word-of-mouth, and long lasting clients. Click on visit website to find out more

5 个月

Thank you for sharing!!!

Jean-Paul [JP] Seear

Owner - Financial Planner & Insurance Broker | Safeguarding your Business & Increase your Wealth! | Quality Advice You Can Trust

5 个月

Very informative and great advice! Thanks ??

Latha Karthigaa, PhD

Helping B2B Companies Build Thought Leadership & Generate High-Ticket Leads | 150+ Clients in 40+ Industries

5 个月

Thank you for sharing this Abhijeet, quite informative to be more diligent and logical than being emotional.

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