always disclose the full history of the property. Get a professional to do it. Don’t do it yourself. If you can’t find someone, Google it. A lot of websites will give you a list of certified inspectors in your area. Whoever does the inspection will possibly give the buyer enough information to raise their negotiating power. Documentation will lead to direct results in that area. This is why due diligence starts right before the deal is agreed on. The buyer makes the final call as to what inspections are done after the preliminary one. The findings are issued with recommended suggestions to move the deal forward or leave it. Once again, this is the most crucial part of due diligence. A problem found here can end a deal, if it’s big enough. Hire a professional and don’t ignore any of their opinions.
FINANCIAL INSPECTION
Like hiring an inspector, you need to hire an accountant with real estate experience in this. Your broker will most likely refer you to one. All accountants are not the same, and you really need one with experience in this field. Even someone with residential experience won’t necessarily transfer over well. This is most likely the largest investment you have ever made. You want someone with a history in similar deals to look it over. Don’t just accept any financial records, books, and other information that a seller gives you. You need to get it verified yourself. Double-check anything and everything. Get every financial record checked by your accountant.
LEGAL INQUIRIES
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