What is Due Diligence?

Due diligence means that you have done your homework on a property that you are interested in bidding on. You need to do this before placing a bid as there will be no turning back if it is successful. This includes checks on the property itself, its condition, remedial works required, location, design, and suitability. Also, due diligence refers to vetting of the legal pack including title documents, searches, special conditions of sale and other related papers. Many buyers will engage the services of a solicitor to check the legal pack and advise on their findings; also, a buyer may seek advice from surveyors, engineers, architects etc. regarding the property or land as well.

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