Due Diligence

 

I was asked to perform some due diligence work on a property in Kuala Lumpur to properly assess its value and thought I should share what due diligence really means within a real estate context.

According to Investopedia, Due Deligence is an investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to a sale. Other legal definitions includes “the care a reasonable person should take before entering into an agreement or a transaction with another party”.

In short, for the purchaser of a property, it is about making sure that you get what you think you are paying for. So in this article, we will explore the due diligence you need to take when buying real estate.

Continue reading

Let the Chinese show you how to build a skyscrapper in 19 days

Haters gonna hate, but this is some engineering marvel. A developer in China has built an entire 57-storey building in just 19 days and as this time-lapse video shows, the Mini Sky City building was put up brick by brick at a rate of three full storeys a day in Changsha, the capital of Hunan Province in south-central China.

 

The tower has 800 apartments and enough office space for 4,000 people.

The tower has 800 apartments and enough office space for 4,000 people.

Continue reading

Excerpt from The New York Post by Jennifer Gould Keil

Construction on One57, the residential luxury that received the 421-a tax abatement.

Construction on One57, the residential luxury that received the 421-a tax abatement.

New York City’s method of assessing property values is so out of whack that the buyer of the most expensive apartment ever sold — a $100 million duplex overlooking Central Park — pays taxes as if the place were worth just $6.5 million.

Continue reading