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Posted On : November 5, 2020

Why Doing Your Due Diligence Before You Buy Could Save You Thousands 

Get advice on the right checks to complete before you buy from property experts Universal Buyers Agents.

 

Failing to complete the right checks before you buy could cause pain down the track.

COMPLETING the proper due diligence before buying a property can mean the difference between a happily ever after or a real estate horror story.

But knowing which checks are necessary and which aren’t can be tough to navigate, which is why Universal Buyers Agent property expert Simon Clarke recommends calling in the help of an expert.

“One of the mistakes a lot of buyers make when they purchase real estate is not doing the proper due diligence,” Mr Clarke said.

“Sometimes buyers overpay huge conveyancing costs doing every check under the sun, but more often than not buyers try to skimp on checks and end up paying for it later.”

He said homebuyers have been caught out buying in flood-prone areas and struggling to secure affordable insurance, buying next to a development site or finding out their home is hit with noise pollution.

“It can be as simple as not understanding where a sewage line might go through a particular part of a block,” he said.

“You may not think it matters now, but they then buy the property, go to put in a lovely pool and find out there’s a great big sewage line running through the block ruining their plans.

Get advice on the right checks to complete before you buy from property experts Universal Buyers Agents.

“It’s a really good idea to do the proper due diligence before you buy so you aren’t hit with surprises like this later down the track.”

Mr Clarke recommends checking things like noise pollution, steepness of the block, is it a character area, where things like the sewage line runs or if there are any development applications in the area.

“There are plenty of stories of buyers who didn’t do the proper checks who have bought only to find out that the quiet open home on Saturday afternoon was not an accurate portrayal of how loud the property because their street is a thoroughfare for traffic Monday to Friday,” he said.

“There are even buyers who have purchased without checking development applications only to find out that enormous apartment buildings are going in next door blocking their views or creating noise.

“It could end up costing you and hurting your long term investment.”

Universal Buyers Agents help navigate the research and due diligence process using their expertise and partners to evaluate a property’s potential.

“It helps to have someone in your corner,” he said.

Universal Buyers Agents offers an experienced and professional buyer’s advocacy service for those looking to buy a home or property. Contact us now to find out more information.

 

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