What is a Buyers Due Diligence Checklist?

In the past few years, it has become legislation to include a Buyers Due Diligence Checklist in all sales contracts. But what does it mean?

Buyer's Due Diligence Checklists (as attached) are added to all contracts and are generally on display at open for inspections of all residential properties, to highlight the importance of the buyers thoroughly checking the property, contract, and special conditions prior to them making any formal offer.“Buyer Beware” is a term often used and it refers to the buyer being responsible for their purchase. The best practice is to become familiar with what to look out for, especially since purchasing a property is often the biggest expense one makes in a lifetime.It is important to note that there are different Due Diligence guidelines for residential and vacant land parcels. To find out more, or to receive a free, no-obligation contract review, visit us at conveyancer.com.au or call 1300 635 556.