Real Estate Due Diligence
Property purchase is a very serious financial step for most people. However, many people seeking to purchase property pick a real estate agent who selects a property, verifies the clean title and draws up a sales and purchase agreement and this is as much as he or she can do. In the meantime, many important house or apartment environmental factors will remain invisible for you, for example:
- criminal situation in the area
- mental stability and capacity, as well as the psychological status of neighbors, drug and/or alcohol abusers among neighbors
- reputation of the property management company
- environmental situation in the area, climate and man-made threats
- general redevelopment plan
- seasonal epidemiological threats
- property liquidity in case the owner is willing to sell it
- controversies and conflicts between occupants and tenants, etc.
The proper assessment of property purchase risks will allow you to enjoy your purchase for years while ignoring an expert evaluation might lead to dire consequences!
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