Due Diligence Management
Once you get a property under contract it is imperative to do your home work to ensure you know as much about the property as possible. It takes some time to obtain it, and experience to properly interpret it.
Erskine + Owen can coordinate and interpret the due diligence for you. Saving you time, hassle, and potentially prevent you from making costly mistakes.
Here’s the information we will coordinate and interpret for you:
- LIM – land information memorandum. This is a report from the council that tells you about building permits for the property, flood zones, hazards, requisitions etc. If there are issues on the LIM we will get to the bottom of what they are and give you our opinion as to what needs to be done to rememdy.
- Property Bag – this is obtained from council and should have records of building plans, communications with council regarding the property etc
- Building inspection – this should be done by a registered builder. A good one will tell you about all strcutural and other building issue with the property. If there are things wrong we will put our commercial hats on and put the issues into perspective.
- Valuation – a valuation from a registered valuer. We can direct you to good valuers that are experienced in the areas you are looking at buying. We’ll give our assessment of the comparable sales they use in the report.
- Unconditional finance – if your offer of finance had conditions attached to it, you will need to get an unconditional offer from your finance institute before declaring the contract unconditional. We will assist with collating the required additional documentation and getting it your bank/ broker.
- Rental Appraisal – ifyou are intending to rent the property we will coodinate this, regardless of whether there is tenant in the property.
The benefit of this service is that you won’t have to rush around in your lunch hour frantically trying to find and get the right people on site.