Due diligence
Due diligence when it comes to a commercial property covers the value of the property, your legal and regulatory requirements, body corporate issues (if applicable), and operational questions. These considerations will take time, as you’ll need to get a full understanding of everything that could impact your purchase and ownership. Value concerns include, but are not limited to:- The location of the property and its accessibility
- Its proximity to other attractions, amenities, and public transport
- Whether the property could be leased
- Whether it would be easy or challenging to resell if required
- The condition of the building
- Why the vendor is selling
- Current tenants, leases and agreements in place
- Existing chattels
- Operating expenses
- Comparable sales data