Due Diligence

Please see below some suggestions when conducting due diligence prior to a property purchase

• Position of sewer line and connection point
• Request e plan sewer plan
• When was the sewerage connected?
• Zoning or residential design code
• Planning – any changes that may effect the property
• Heritage list
• Complete inspection report – document your inspection and evaluation
• Take photos of interior and exterior – final inspection and 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
• RP data – always check
• Building department – what has been approved or not approved. – additions, improvements, retaining walls, Below Ground Pools, pool fences etc
• Obtain copy of building plans from local council
• Engineering dept – check any road widening
• Any other road works that may effect the property?
• Satisfaction of the conditions of contract
• Building Inspection Report – is satisfactory  or not – how to write up conditions that protect you and if not satisfactory how to negotiate a suitable outcome. Exit from contract and place vendor and listing agent under ++ pressure. Contract has progressed ++ In good position to negotiate
• Termite Pest Report – Now offer thermal imaging technology for a low additional cost – if not satisfactory see above
• 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.
• Good working order at final inspection – very important. Must work. 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 – order 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 DD pre purchase or make it part of contract conditions
• Supply keys at final inspection – 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 – contract condition

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