As many of us know, buying a home is a lengthy and expensive undertaking that demands expertise.
There are various nice looking properties out there, and even the most stunning of them will have flaws and imperfections.
Even high-ended properties can have building defects because most parts of the construction of houses are by manual labour. In addition, the type of materials used and any flawed application during the building process can result in deficiencies.
Therefore, it is best to check for defects thoroughly when you are handed over your dream house
Checking your new house for defects is important for several reasons, including:
If a buyer discovers flaws in their new home, they must do the following:
STEP 1: Make a written list of any defects and if feasible, photograph them.
STEP 2: Ensure that the developer receives the defects list via registered mail, electronic mail, or personal delivery with an acknowledgement of receipt.
STEP 3: If the developer is responsive, he will rectify the problem within 30 days of receipt. The buyer and developer should go over the list of faults and discuss the rectification work timeline.
The developer must also be willing to devote time or appoint someone to supervise the work of the hired contractors.
STEP 4: If the developer is unresponsive, request a detailed quote for the cost of correcting and making good the defects from an independent contractor.
Give the developer a second notice and the 30-day grace period specified in the Defect Liability Period clause to complete the rectification work.
STEP 5: After delivering written notice to withhold release of the stakeholder sum (5 percent of the purchase price as stipulated in the SPA's 'Schedule of Payment,' you may recover the cost (any amount) of the repair from the developer's stakeholder lawyer.
The average time it takes to fix a reported home fault is between two weeks and a month. Any additional time needed by the contractor or developer owing to a problem, insufficient materials, or other unanticipated circumstances must be communicated to you in advance.
The Defect Liability Period is 24 months, starting from the date you receive your keys. Within this period, the homeowner will need to check for any damages, defects, including poor or faulty workmanship.
Any issues need to be reported to the developer to get them repaired for free.
Don't put it off any longer! It is with utmost importance that you get someone who is experienced and licensed to check your new home before you actually move in. Checking for defects in real estate is a difficult undertaking that demands a lot of time and effort on your part. As such, you can do it professionally by ServisHero. If you’re still wondering whether you should engage a home defect inspector, read ‘What is Included in a Home Defect Inspection and Why do You Need it?’