Please see below some suggestions when conducting due diligence prior to a property purchase
- Check the position of sewer line and connection point e.g. with the Water Board.
- Request e plan sewer plan from the Water Board.
- Ring the Local Council and ask when was the sewerage connected?
- Ring the Local Council and ask about the zoning or residential design code?
- Check with the Local Govt Planning Dept if any changes are scheduled that may effect the property?
- Is the property heritage listed?
- Complete a property physical inspection report, document your inspection and evaluation.
- Take photos of the property interior and exterior at the final inspection and for your record.
- Sales and listing evidence: inspect other properties for sale or if possible have sold in the area.
- Certificate of title: check encumbrances/ easements etc part of contract or view pre purchase.
- Always check the comparative sales data and conduct an analysis.
- Check with the Local Building department: what has been approved or not approved e.g. additions, improvements, retaining walls, below ground pools, pool fences etc
- Obtain a copy of the building plans from the local council.
- Check for any road widening with the Local Govt Engineering Dept.
- Any other road works that may effect the property?
- Follow up the satisfaction of all the conditions of the contract for sale of land/property.
- Building Inspection Report: Is it satisfactory? Learn how to write up building inspection report conditions that protect you and if not satisfactory how to negotiate a suitable outcome e.g. exit from contract and place vendor and listing agent under high pressure.
- Termite Pest Report. Now offer thermal imaging technology for a low additional cost. Is it satisfactory? Learn how to write up termite pest report conditions that protect you and if not satisfactory how to negotiate a suitable outcome e.g. exit from contract and place vendor and listing agent under high pressure.
- Site Survey is satisfactory. How to write up conditions that protect you. Use general and non specific terms to allow you full exit if required.
- Appliances in good working order at final inspection is very important. Must do this. Do not believe the Listing Agent. ” she’ll be right mate “
- Review lease document part of condition of contract. Is the tenant on a periodic lease and do they actually pay the rent claimed?
- Seller warrants that all improvements are shire approved and order building plans from council.
- Real Estate Institute Sellers Disclosure statement. Full disclosure. Protects you and is legal document part of condition of contract.
- Conduct your own due diligence pre purchase or make it part of contract conditions.
- Supply keys at final inspection is a contract condition.
- Seller warrants that the property is connected to sewer and no septics.
- Buying remotely contract condition: is your representatives satisfactory viewing or your viewing within so many days etc.
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