Where Do You Start with Due Diligence?

So you're gearing up to buy your first home, but what do you need to do as soon as you find a property you want to buy?

As a first home buyer, due diligence is one of the most important parts of your property journey. The right due diligence can prevent you from making avoidable mistakes and spending too much on unnecessary fees as well!

This is why every property needs to be thoroughly evaluated before you buy it and today, we're going to make sure you know where to start!

In this episode, we're tackling the due diligence process. Once you've found the property you want to buy, your job is not done! You can't simply hand things over to your conveyancer or solicitor and expect every stone to be turned. It's up to you to make sure that you uncover any reasons why you might end up regretting buying a property!

If you enjoy this episode, do give us a like, share it with others who you know will benefit from the show and subscribe to the podcast! We have loads of resources available and if you'd like to talk with us directly, send us an email at [email protected]!

See you on the inside!

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Episode Highlights:

• Why thorough due diligence is incredibly crucial [03:01]
• Avoid getting surprised by unexpected special levies [05:46]
• Learn about flood zones and overland flow [07:46]
• Understand what other kinds of professionals you might need for inspections [10:26]
• It is your job to learn about the property through due diligence! [12:52]
• What can you do to avoid making mistakes as a first home buyer? [13:18]
• Every state has a different set of mandatory disclosures [14:45]
• Think about the potential future of surrounding developments [16:17]
• Will you be able to benefit from infrastructure projects if you purchase a certain property? [18:21]
• Be aware of underground services near your property [21:26]
• How about zoning certificates? [24:50]
• Research the neighborhood you're buying from! [26:35]
• Should you rely on buying a property online? [28:52]
• What else should you do for the right due diligence? [31:20]

Links from the Show:

• The Bubble House in Ipswich, Queensland
• Course Link

If you enjoyed today's podcast, don't forget to subscribe, rate and share the show! There's more to come, so we hope to have you along with us on this journey!

Learn how to buy your first home without making avoidable mistakes.

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Co-Founders

Veronica Morgan & Meighan Wells

Veronica & Meighan are both licensed real estate agents who exclusively help buyers. Together they have nearly 40 years experience as property professionals.

Veronica is principal of Sydney based Good Deeds Property Buyers and is also co-host of The Elephant in the Room property podcast as well as Location Location Location Australia on Foxtel and author of Auction Ready: how to buy property at auction even though you're scared s#!tless!

Meighan is the multi award winning principal of Brisbane based Property Pursuit, chairperson of the REIQ Buyers Agent Chapter & a regular media commentator.