Property experts Amy Lunardi and Pete Wargent discuss the importance of due diligence in property purchases. They cover topics such as conducting thorough research, potential deal breakers, worst-case scenario due diligence, tips for property buyers, and the significance of using a checklist for property investments.
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Due Diligence Importance
Due diligence means doing all checks and research before buying a property to understand risks and value accurately.
It helps in making an educated decision about suitability and pricing of the property.
insights INSIGHT
Risks of Skipping Due Diligence
Once you own a property, it's too late to fix undiscovered issues found after purchase.
Not doing due diligence risks unexpected repairs, no capital growth, or even capital loss.
volunteer_activism ADVICE
Buyer Beware Principle
Remember the principle of caveat emptor: buyer beware is your responsibility to research fully.
Don't rely solely on vendor or agent disclosures, as key issues may be hidden.
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On this Australian Property Podcast episode, expert buyers agents Amy Lunardi and Pete Wargent explain how to perform due diligence on a property purchase.
Topics covered by AmyLunardi & PeteWargent include:
What is due diligence?
Why is it so important?
How do we actually do it?
What is the cost of getting it wrong?
Common big mistakes: Owners corporations, contracts, building permits and certification, titles, easements and access; future issues
DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.
Australian Property Podcast