Due diligence is a process performed before signing the final sale-purchase agreement that consists of a thorough verification of the property’s cadastral, financial and structural situation.
Some of the key areas verified during this process include the following:
Cadastral verification: a land registry search is performed in order to see if there are any irregularities with the property and whether or not the seller is the actual owner;
Administrative checkup: it highlights if there are or were any mortgages on the house and if there were any tenant agreements;
Structural inspection: a constructor can perform an on-site verification of the building to confirm that it is safe, that the installations are in order and whether or not any refurbishment works will be needed.