If you are planning to venture into real estate investing,
you probably met the word due diligence many times.
Due diligence is very important in real estate investing in
order to make sure that you are choosing the right property. This will save a
buyer or an investor in what they call a "buyer's remorse" or regrets
in the future.
In general, due diligence describes a general duty of a
reasonable person to exercise care before entering into an agreement or a
transaction with another party. Due diligence is all about validating facts, eliminating assumptions and digging more information about your investment.
In real estate investing, due diligence is a thorough
assessment or evaluation process of a real property. This includes thorough
investigation and inspection of the details of a real property before a buyer
finally decides to pursue with the acquisition.
What are the Due Diligence Checklists?
We may use the Top Five Things to Consider Before Buying a Foreclosed Property.
In addition, we could also use this checklist Philippine Real Estate Purchase Checklist as a guide when contemplating to buy or invest in real estate in the Philippines.
Please watch this video for more information on due diligence from James Smith Real Estate.
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