The Elephant in the Room
The property podcast for the thinking person.

Episodes

Episode 377: The Hard Truth About Due Diligence: If You’re Not Doing This, You’re at Risk

When it comes to buying property, many people think due diligence is just checking if the house looks nice or if the price feels right. But the reality is, it runs way deeper than that. In this episode, we take you through our 109-point due diligence checklist—yes, 109 points—and share what really goes into properly evaluating a property.

We dig into why so many buyers, and even some buyers’ agents, miss crucial details that can lead to expensive regrets. From spotting dodgy renovations and unapproved works to reading contracts carefully, we show that it’s not just about ticking boxes—it’s about genuinely understanding the risks and avoiding mistakes that could haunt you later.

If you think you can skip a few steps and still be fine, think again. We share real-world examples of how people have been burned by “hot market blindness” and the dangers of rushing through due diligence. Our goal is to help you buy with your eyes wide open, so you’re not left asking, “Why didn’t anyone tell me that?” down the track.

Episode Highlights:

00:00 - Introduction

02:07 - How to approach a property inspection when buyers are rushing from viewing to viewing

04:54 - Dealing with deal breakers even when the client loves the property

08:50 - Why Veronica insists on multiple property visits and internal collaboration

10:40 - Veronica explains when and how pricing considerations come into play

13:28 - Uncovering overlooked details in vendor disclosure documents

16:44 - Veronica breaks down the risks associated with unapproved modifications

18:09 - Getting client buy-in before diving deeper into due diligence

21:18 - Diving deep into legal due diligence

23:43 - Why due diligence for strata properties demands extra attention

34:33 - How Veronica manages pricing expectations while dealing with agents

45:37 - The importance of building and pest inspections — choosing the right inspectors

48:30 - How to approach properties with slim chances of success but significant potential

53:23 - Additional points from Veronica

Resources:

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Chris Bates