Ordinary wear and tear are not mentioned in the report, and for example, a damp basement in a house from the 1920s will not be noticed as a fault in the house, as this is completely normal. It is to describe the relative condition of an apartment Puchong in relation to its age and type.
Electrical installation report:
The purpose of an electrical installation report is to obtain the opportunity to take out a change of ownership insurance. In addition, it is for specifically assessing all visible electrical installations on a house, and measurements are made on the main switchboard as well as random checks of sockets, switches, and lamp outlets, where the front cover is removed and the materials behind are checked. The electrical installation report is similar to a condition report, and generally, the same grading system is used as in a condition report.
Both the condition report and the electrical installation report are voluntary, but they are a prerequisite for having a change of ownership insurance drawn up that protects you against hidden faults and defects at the house. You can order an inspection of all types of housing, ie house, condominium, terraced house, villa apartments, and holiday homes.
Change of ownership insurance:
A change of ownership insurance covers hidden faults and defects in a house which was present on the day of the takeover, but which does not appear in the condition report and the electrical installation report, and which the buyer did not otherwise know in advance. If there is moisture in the basement so that you cannot use it to live in (which in most cases is also illegal), then it is not necessarily damaged that you can get covered by the insurance.
Remarks in the condition report:
At the back of the condition report, there is a house-type description of the house you are about to buy. Pay attention to the OBS points and ask them at the seller. The OBS points will not necessarily appear in the condition report as injuries.
Binding agreement: Can you cancel your purchase?
You can revoke your purchase of the home as long as the seller has not signed. You can easily undo your signature on the purchase agreement if the seller has not yet signed it. All you have to do is notify the seller that you are withdrawing your offer, which is free as no final agreement has been reached.
If both you and the seller have signed, the purchase agreement is binding. However, as a buyer, you can regret it if you notify the seller within 6 working days of signing, and at the same time, the seller pays a refund of 1 percent of the purchase price. But if you would like to check out a different house in a different state like condominium Johor Bahru.
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