Due diligence when purchasing a home

It’s about you, making enquiries regarding your purchase before you buy.

Is the quality of the purchase acceptable to you? You should make comparisons with other similar homes.

The home may not be in excellent condition, but it may be suitable for what you need.

For example, the property may have great facilities, provide you with room to grow, and the location is close to a train station, schools and shopping centres.

Potential buyers should talk to the neighbourhood and look into any risks associated with the purchase such as renovations and council orders.

It is suggested you engage a reputable inspector for Pest and Building inspection reports, as well as Strata reports for units. These reports can be used as part of your assessment of the Property, and help you determine whether you still would like to go ahead with the Purchase. Additionally, they may be used to negotiate a lower price for any defects or repairs in the report.

Understanding your obligations under the contract for a purchase is a large part of Due Diligence.

This is not legal advice if you have any further enquiries please contact DF Legal.

About Us

DF Legal is a boutique law firm with over 15 years of combined experience practicing in a wide range of areas including Property Law and Conveyancing, Commercial Law, Wills, and Estate Planning, Franchise Law, Building Disputes, Commercial and Retail Leasing, and more.

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