Due Dilligence Checklist
Due diligence is completing research about the area you want to live in. If you don’t, you could be buying a property that doesn’t increase in value over time or have serious faults that you were unaware of.
Due diligence includes, but not limited to:
Location/Neighbourhood
- Access to amenities
- Access to transport
- Proximity to schools/school zones
- Proximity to negative aspects – cemetery, housing commission
- Complimentary surrounding development or any recent planning permits that will have an impact on the future enjoyment/value
- Streetscape
- Zoning / Overlays
- Proximity to non-residential uses
- Infrastructure plans or other plans that could have a positive/negative impact eg new school, location relative to new freeway other infrastructure projects
- Amount of development in the area
Land
- Irregular shape
- Sloping block
- Corner block
- Good vehicular access
- Good access to utility services
- Encumbrances, overlays, easements or encroachments that may adversely affect current marketability and/or value (eg power line)
- What is on title &/or lease
- Easy access
- Orientation
Environmental
- Any significant, observable, visual and/or known defects, hazards or site contamination
- Known area for Pest Infestation
- Property near or affected by main road, train line and moderate traffic noise
- Flood zone
- Property adjacent to airport, transmission lines, service stations, electrical substation
- Bushfire risk
- Soil contamination
- Property affected by coastal erosion
- Proximity to Mobile Phone Towers
Improvements
- Any recent improvements have plans / permits
- Any works requiring completion
- Repairs and maintenance required
- Dwelling has standard layout and design
- Any evidence of past termite damage
- Owner built vs tradesman built home
- Presence of asbestos
- Any damage
- Does it have a unique style
- Good construction materials
- Orientation – does it maximise the use of light?
- Depreciation benefits
Market
- State of the market
- How has the suburb historically performed?
- How has the property performed relative to the market?
- How is the suburb impacted by the local economy?
- Point of the property cycle
Comparable sale
- Price per sqm being paid in the suburb/area/street
- When the subject property last sold – median prices at this time compared to today
Any Value add
- Alternative uses for the land
- Ability to add value to the improvements
- Opportunities to obtain further land (eg. ROW)
Legal
- Have a professional check the Contract of Sale / Section 32
We offer a no-obligation, free conversation, where we can talk about your buying requirements and offer more valuable advice to help you secure your ideal property, in the perfect location, for the lowest possible price.