Due diligence enquiries are fundamental to any commercial transaction. While they can add to the cost which seems “wasted” if the transaction does not proceed, they can help you to not make the biggest mistake of your life.
Our conveyancing and property lawyers adhere to all protocols and are experienced in dealing with Gold Coast and Queensland commercial property. In addition we review the latest decisions of the major Queensland Courts so as to be aware of developments and trends in property litigation.
Our conveyancing lawyers’ due diligence enquiries are not intended to deter you from the transaction, only to inform you of what you are getting into. We will usually work in conjunction with you and your accountants so that you are fully apprised of all issues with the property you are acquiring.
Due diligence enquiries in relation to commercial property will include enquiries as to title (encumbrances, encroachments, easements and the like), land (any claims to the land or deficiences or restrictions on its use), improvements (buildings), permitted use, and dealings such as leases. A proper due diligence of leases is critical as it is the income from these leases which underpins the success of the acquisition – or in some cases the ability to end the leases underpins plans to renovate or rebuild.