property strategy
STEP BY STEP GUIDE
AFTER YOU PICK UP YOUR KEYS Who should be held responsible if there are defects after you’ve purchased a primary residential property?
S
o, you see this new housing development and you fall in love with it. It falls right in your budget and after years of waiting for the project to be completed, you receive your keys. You are filled with glee and walk in the space taking in the views, the rooms - it’s finally yours! You are making plans to move in, the type of furniture you want to get, where you want to place them and how you want to arrange your furniture and fixtures. But hold your horses!
I understand all the excitement of owning a house, which you are more than stoked to turn it into your home. It’s a new building; there aren’t supposed to be any defects. Well, that’s what it should ideally be. But, defects are what you need to look out for. Many home buyers rush into the renovations and refurbishments that they do not take the time to look at the possible defects that may have happened whilst the house or space was being constructed. Your house comes with a ‘warranty’. Some issues that may arise during filing of claims include mistaken interpretation of sales and purchase agreement (SPA), renovations, sale of the property, the significance of defects, and timeline of repairs. In addition,
OCT 2019
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