snag list before or after contract deposit ?

[bubbasmama]

This may seem like a basic question but we are FTB's and this is the furtherest alsong we have gotten to closing a sale... I know if you are buying a second hand house , the structural survey should be completed before signing the contract deposit. Does this mean on a new build the snag list should be completed before the contract deposit is paid ?? We are at the stage of having paid the booking deposit and bank has instructed valuer to inspect property.

 

[mf1]

Snag list is done after payment of balance of deposit - its done when you are due to hand over the balance of funds i.e. at closing/ completion. If there are very significant problems on the snag list you do not close - i.e. you do not hand over the balance of funds - until the problems are sorted.

mf

 

[bubbasmama]

Thank you for quick reply.