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.