Due Diligence, have your say!

Discussion in 'HMO & Multilet Property' started by Ryan., Jul 30, 2019.

  1. Ryan.

    Ryan. New Member

    Hi,

    As a new member, and overall newbie when it comes to letting, I've come across this term 'due diligence' many a time in my research. Im sure other new buyers/landlords will agree with me on this and say that it is a almost a scary phrase.

    I have set up this thread for the more experienced landlords that wish to help new investors explore this term.

    Please feel free to write or even just list everything you feel comes under due diligence whether buying a setup or un-setup HMO, or single let house. From renewing contracts to choosing surveyors the list is vast and can be quite intimidating when your money is at risk!

    If this thread is successful, I will go on to make a comprehensive list of 99% of the things that need to be covered and investigated when making that first big purchase.

    Thank you in advance!
     
  2. diyhelp

    diyhelp Active Member

    The first thing I would say, your solicitor should have a list of due diligence to carry out for various types of investment. Best to start there?
     
  3. While I would certainly advise hiring the services of a solicitor with expertise in property, it might be useful to start a list for others to follow. Surely there is no harm in knowing what you are getting yourself into?
     
  4. FWL

    FWL Member

    I tend to leave due dilligence to the experts and stick to what I do best - researching my next investment :)
     
  5. Ryan.

    Ryan. New Member

    That was my first thought 'leave it to the experts'. However, as this will be my first investment, when im going to view properties i would like to know what to look for/ask.

    As everyone has difference experiences i thought it would have been good for people to share and almost create a small initial checklist so you dont end up wasting time on something that should have been picked up on?
     
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