Due Diligence

When people are advised to do their "due diligence," they are being told to take their time before making a decision. Purchasing a home is a major investment and not one that should be done quickly or without caution. In essence, due diligence simply means doing your homework before you make a choice or sign a contract.
​
There are several things to take into consideration before purchasing a piece of property. Buyers should understand what the current market has to offer:
​

• Get more than two bids for financing to determine which company will give you the best deal.
• Perform calculations before purchasing investment property.
• Review the paperwork you are given by any inspector and understand the issues discovered.
• How much will insurance cost for the property you are interested in?
• If there is a homeowner's association, read the contract to be sure that you can abide by it.​

Purchasing a piece of property can be an emotional experience. When a person does not perform their due diligence before making such a large purchase, they may end up with years of heartache. A home or piece of investment property should work for you and your family, not the other way around.

Any person who is considering purchasing a property should do so through an experienced real estate agent to be sure that their needs and wants are being met. A real estate agent knows the questions to ask and what to look for in the various reports and contracts that go along with such an investment.