In short, the term “Due Diligence of a property” can be defined as “a comprehensive investigation into the attributes and both positive potential and risks which a property or a development has”.

Due Diligence is more widely considered when a prospective purchaser is considering buying or developing a property and if a Valuer is being engaged for advice of pre-purchase or feasibility there is a level of expectation that a client should receive advice in this regard as well as a valuation.

In reality there are different levels of attention given to this and it is important for a client and a Valuer to discuss and clarify this prior to entering into instructions.