Due diligence before you go unconditional

What it is

Once your offer is accepted the condition clock starts. During that period we review the record of title and every interest on it, read the LIM from council, go through the building report with you, confirm finance and insurance, and chase anything the documents raise. At the end you either confirm the conditions, renegotiate, or cancel.

Why it matters

After the agreement is unconditional, problems become your problems. A deck without consent, an easement that stops you building, a drainage note on the LIM: each of these is a negotiating point before unconditional and an expense after it. The due diligence period is the only time you hold the cards.

How we handle it

We produce a written review of the title and LIM with a traffic-light rating, and we bring it all together with your building report in a reporting letter before the condition date. If something needs fixing we go back to the vendor's lawyer with a specific request: a price reduction, a repair before settlement, or a formal undertaking.

Common traps

• Ordering the building report on the last possible day.
• Reading the LIM summary and not the attachments, where the real notes live.
• Confirming the finance condition before the bank has approved the specific property.
• Assuming an EQC or insurance claim history is closed because the vendor says so.