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DUE DILIGENCE CHECK LIST WHEN BUYING AN APARTMENT BLOCK
By Scott Ulrich
So you’ve put an offer in on an apartment building and the vendor has given you 30 days to do your due diligence. What do you do next? Well, you now have a short period of time to confirm that what has been represented to you is reasonable and accurate. You will want to determine that the building is sound and that there will be no unexpected major repairs or work orders. You will also want to ensure that you will have an adequate cash flow to provide the expected return on your investment.
The due diligence process can be split into the following stages:
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