Due Diligence What?
When we are serious in buying a certain Real Estate property we usually ask for documents related to it like title, tax declaration, lot plan, etc. And after securing a copy of these documents what would you do next? For a "competent" Licensed Real Estate Broker he would conduct a due diligence work on the property you are selling or buying. BASIC DUE DILIGENCE WORK in REAL ESTATE 1. Always ask for a written authorization to verify the documents of the property from the SELLER/OWNER for you to secure "certified true copy" from concern government agency. Comes with the authorization is a photocopy of any government issued IDs of the SELLER/OWNER. 2. If the owner is out of the country SELLER/OWNER should issue a Special Power of Attorney. - Make sure that the Special Power of Attorney is specific and consularized - Verify the authenticity of the SPA with the concern government agenc...