What are Due Diligence enquiries? Simply put they are investigations into a business, a property or any matter in which you may be looking to enter into an arrangement with.
Due diligence enquiries can include:
- Investigations into the financial position of a business to be purchased;
- Enquiring into the body corporate of a unit you are hoping to buy;
- Investigating the planning and development approval requirements for a parcel of land;
- Determining any council approvals on renovations and improvements to a home;
- Determining if a commercial property meets legislative requirements such as holding asbestos registers or having been inspected for combustible cladding;
- Advising on leases or tenants in property to be purchased; or
- Investigating environmental or heritage restrictions on proposed building works.
In a contract a properly drafted due diligence clause can be very broad or very narrow. Of course, buyers prefer broad and sellers prefer narrow.
We can prepare contracts to include appropriate due diligence conditions, make the due diligence investigations on your behalf and provide you with a detailed due diligence report to help you in determining if this transaction is appropriate for you.
Our property and business lawyers are here to assist and take your call.