Conducting thorough due diligence is essential to avoid unforeseen issues with a property, such as structural problems, adverse developments in the area, or unexpected levies.
At The Buyers Agent, we take due diligence seriously, collaborating with experts to ensure the property of your dreams doesn't turn into a nightmare. Our support in this process gives our clients greater confidence when making one of their biggest financial decisions.
Understand every detail of your property by identifying any defects that can be leveraged in your negotiation strategy and budgeting.
We assess key environmental risks, including flood and fire zoning, and their potential impact on your property.
Our in-depth market analysis focuses on trends, forecasts, and valuations to equip you with the knowledge needed for informed decision-making.
We collaborate with your legal team to meticulously review the contract for sale, uncovering any problems can affect the property.
Property due diligence starts with identifying your preferred location, followed by researching the neighborhood and assessing market dynamics. This thorough approach helps ensure that you make a well-informed investment.
Neighborhood Research
Investigate the local neighborhood, focusing on lifestyle aspects, schools, transportation options, and crime rates. We can provide detailed insights into these factors.
We’ll guide you on the best streets and pockets within your desired areas, highlighting the top schools, local amenities, and access to transport. Additionally, look into future development plans or infrastructure projects that could positively or negatively impact the neighborhood.
Environmental Assessment
Examine council restrictions, zoning changes, and flood and fire mapping. It's crucial to assess crime rates and housing commission properties in the area.
This thorough evaluation ensures you are fully aware of any potential environmental hazards or renovation limitations in your desired suburb.
Financial Analysis
Our team will assess the property’s true market value based on local market knowledge and recent comparable sales.
If you’re investing, we’ll help you understand potential rental returns and capital growth. It’s essential to factor in ongoing expenses, such as property taxes, insurance, strata fees, council rates, stamp duty, and maintenance costs.
We can also assist you in evaluating your financing options by connecting you with mortgage brokers, financial planners, and accountants.
Market Insights
Consult with our team of buyer’s agents for expert market insights and analysis regarding property values, inventory levels, vacancy rates, demographics, and auction activity.
Staying informed about interest rates and changes in lending conditions that may affect the property market is also crucial. Our insights help you understand the true market value for both rent and sale prices.
Physical Property Inspection
Attending open inspections allows you to identify potential issues and gauge the overall quality of the home to determine if it meets your needs.
We highly recommend hiring a pest and building inspector for a detailed summary of the property's condition.
Reviewing Contract Conditions and Legal Considerations
Your solicitor or conveyancer will thoroughly review the contract and request any alterations you wish to make to the vendor’s legal representatives.
We will liaise with conveyancers from both parties to ensure a seamless process. Additionally, we will verify zoning regulations and any land use restrictions, as well as examine body corporate or strata rules and regulations, if applicable.
During this process, we will help you uncover the property’s title information, ownership documents, and check for any liens, encumbrances, or easements associated with the property. It’s also essential to assess whether there are any pending legal disputes or litigation involving the property.
Pest and Building Inspection
Scheduling a professional pest and building inspection is crucial to identify any signs of water damage, mold, pest infestations, or structural issues.
Cohen Handler can connect you with our network of professionals if you don’t have one of your own. The pest and building inspector will assess the condition of the property and provide an independent report. Key elements covered in the report include the roof, foundation, plumbing, electrical systems, heating, ventilation, and air conditioning (HVAC). They will also evaluate the overall safety and security of the property, including locks, alarms, and fire safety features.
