What is due dilligence? is there a list for due dilligence on land purchases? What should I look for?

Question

I have a client who is purchasing land in Nevada. I need a list for due dilligence. I have no experience with land purchases is there something else that I should be looking for?

Answer 1

Due Diligence....basically means that you have asked all the right questions, gotten all the right answers, and end up with no surprises at the closing.
For example, land only:
Where are the utilities? WHAT are the utilities? Do you have to use propane and have it delivered, is there gas available, electric, Where would your clients get their water? City? Well? Is there an easement required for utilities or mineral rights that are owned by someone else. How are the roads? Are there plans to pave, expand, or build highways nearby. How is the land around their plot zoned? Will they have a Wal Mart built in their backyard? How is the lay of the land? Is it where all of the property around it will drain into their living room? What about emergency services, are they within the city/county/volunteer fire dept or ambulance service area? That's a start anyway. Don't forget to check for a clear title! Hope this helps! - Happy Hag

Answer 2

First of all, if you are an agent licensed in Nevada you should check with your broker or office manager for guidance. Land sales, especially in Nevada, can be very complicated and if you miss something it will certainly come back to haunt you later.
If you are not an agent licensed in Nevada, you should look in to having one represent you. You can usually do that at no cost to the buyer.
Due Diligence basically means that if you are buying a piece of property and you want to know something about that property that would be public knowledge, you need to find that out before hand yourself. For instance, if you are buying 10 acres for commercial use you will need to find out if that property is zoned for commercial use yourself before the transaction is complete.

Answer 3

It sounds to me like your client has hired you for something other than a real-estate agent. What is it that you REALLY do??

Oh.... don't forget to have the property surveyed by a Professional Land Surveyor.

Answer 4

yes :
take care about all things that may cause a risk in your deal, yes if you are asking about list so, well you have to ask all thing in land and person
for example
is there gas ? electricity? utilities? city? what about client? client background? Clint history ?

if you don't know how to investigate due diligence i suggest you best thing
safehirings.com is world best company for investigating due diligence
here is re reference ............ http:// www.safehirings.com

Answer 5

I really hate to say this, BUT if you do not have a clue, what are you doing taking the listing? You should have refered it out!!!

It is realtors like you that give all other realtors a bad name - basicly will do anything for a buck! Shame on you!