How to Conduct a Technical Due Diligence of Property
Introduction Technical Due diligence is an essential process during any real estate transaction. It’s important to ensure the property you’re about to purchase is a reliable investment, and that it’s not hiding any hidden problems. If you aren’t sure what due diligence means, or how to go about doing it, here are some helpful tips. What is a Technical Due Diligence? Technical due diligence is a thorough examination of a property’s structure, systems, and functions, to ensure that it is fit for purpose. It is used by potential buyers to evaluate a property’s compliance with local building codes and regulations, as well as its suitability for the intended use. Technical due diligence is different from financial due diligence, which is used to evaluate a property’s long-term profitability and any existing contracts or obligations that may affect the investment. Our Approach to Technical Due Diligence Technical Due Diligence, image Why is Technical Due Diligence necessary...