How To Do Due Diligence When You Can’t Tear Down Every Wall

As a buyer, doing your due diligence is one of the most critical tasks to be done before completing the transaction. While you want to be as thorough as possible, there are simply some limitations that won’t allow you to. However, there are still ways for you to do due diligence in order to equip you in making a well-informed decision.

Inside the property

You don’t have to tear down every wall in order to assess the current state of the property. Hire a licensed inspector do a professional and thorough inspection. The inspector will be able to unearth problems such as water damage, structural defects, burst pipes, and faulty wiring.

Outside the property

If an inspection inside the property is not possible at the moment such as in the case of an occupied foreclosure industry-rails-train-path-largeproperty, you can still take note of issues from what you can observe on its exteriors such as the landscaping, the drainage around the property, and the neighborhood where it is located. The state of the neighborhood can affect a property’s value, especially if there are several abandoned and unfinished buildings in the area.

Make your inspection comprehensive by including the positives as well. Good schools, access to public transportation, flourishing local businesses – take note if these are present in the neighborhood.

Paperwork matters
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The property’s legal status is as important, or even more, as its physical condition. Review the title of the property, making sure that the title is clear and that the property is indeed for sale. Find out as well if there are other issues such as tax liens or other hidden liens. Be aware of any obligations that come with the property, and whether the current owner should resolve these issues first, before completing the purchase. The unpleasant surprise of being encumbered by an unforeseen legal obligation will take away any feeling of accomplishment in acquiring a new property.

For future landlords

If your intention for purchasing a property is to rent it out after, you’ll have to consult with your insurance agent as well to find out the cost of your liability insurance and property insurance. Insurance costs will be different if you are going to rent out the property compared to residing there yourself.

As a future landlord, you also need to know the zoning requirements of the area. There could be laws or ordinances in place that don’t allow property to be rented out or have a limit on the number of rentals allowed in the area. In some cases, the limits could also be on the number of people allowed to occupy a room or a house. If your plan for the property includes offering room-share tenants, find out first if it is allowed.

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Estefania Castaneda
Estefania Castaneda
17:24 04 Sep 21
Extremely pleasant, attentive to all my needs always. It was a pleasure renting an apartment from Ken.
Vichai Soysouvanh
Vichai Soysouvanh
14:17 03 Sep 21
Can't say enough about Ken and his team. This was the most seamless sale I made. I didn't have to deal with all the... nonsense that comes with selling your home. They bought my house as is, I didn't have to declutter and pay a broker commission. All in all great experience, will do business again.read more
Niki Keser
Niki Keser
17:46 06 Aug 21
I had a wonderful experience renting one of their properties for 7 months. The apartment was beautifully remodeled and... Ken and his team were always responsive to any needs. I would recommend to anyone looking to sell or rent.read more
YASMINA VASQUEZ
YASMINA VASQUEZ
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Ken and his team were professionals ,they promised and they delivered or anything
Alfredo Garcia
Alfredo Garcia
03:20 17 Jun 21
Selling my property too Ken was the best thing I did. Although I was skeptical at first I soon found out how... professional he was. Even though my closing contract was not standard because of the pendemic situation. He followed through on time with all the contract terms as promised. Thank you Ken for your professionalism.Alfredo Gread more
Vishrut Patel
Vishrut Patel
23:27 19 May 21
Ken was referred to us by someone who had sold their home thru Ken last year. From the first meeting to the last... transaction, Ken and his team were professional, efficient, easy to work with, and above all.... caring. Each seller's situation is different, and Ken truly understands that. We were treated with respect each time.Since we were in a time crunch situation, selling our home with a cash offer from Ken was the best decision we could have made. We were perfectly okay with getting slightly less money for our home as compared to selling it via an agent. But if you consider the money saved on agent commissions (both buyers and sellers), closing costs, repair costs, attorney fees, and most important of all... time and headache, you can't beat the option to sell your home with a guaranteed cash offer from a reputable buyer like Ken.My wife and I were very pleased with our experience with Ken. If you are in the market to sell your home fast for a cash offer, I highly recommend giving Ken a call!Best of luck!Vishread more
Christopher Martino
Christopher Martino
14:19 10 Mar 21
Ken and his team were great. They were easy to work with, professional, and responsive. If you are thinking of selling... your home they offer a super easy process.read more
Chelsea Grant
Chelsea Grant
15:36 03 Jan 21
I am a travel nurse and stayed in a town home for 3 months... It was exactly as described and any issue that came about... was handled within a few hours - I would definitely recommend and I would definitely stay again!read more
Aaron Zachko
Aaron Zachko
12:41 14 Aug 20
Amazing experience! Ken was upfront, quick and got the deal done in no time. Having done a number of real estate... transactions this was by far the easiest and smoothest. I would unconditionally recommend him to anyone looking for an easy, quick and fair transaction.read more
Joseph Tricarico
Joseph Tricarico
19:10 26 Mar 20
Ken is a very professional individual from start to finish. As promised, he gave me a fair deal on my one of my... properties that was in rough shape. He was knowledgeable and responsive to my requests and as promised we didn't need to waste time with inspections and appraisals and we closed quickly. He made it painless as possible by having his crew handle the clean up. This was truly a quick and easy process but a professional individual. Thanks Ken!read more
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