Due Diligence on a Developer

Hi, I'm looking at an investment opportunity and the developer has provided a list of recent projects in terms of addresses.

How would I go about doing my due diligence ion these developments?

I guess i'd like to confirm the names of the people / companies who purchased and sold the land / properties, and also look up the DA requests for subdivision.

Could I hire a Conveyancer to do that, or is that the job of someone else?

 

You may not able to find much. And your conveyancer may charge alot.

(1) you may do company/name/abn/title search
(2) DA can be lodged by architect/subdivision engineer etc so the applicant might not be the owner
(3) Developer not like to share their profit with anyone. And generally good seasonal developer has funds flowing via bank and non bank landers.

(4) development is not easy. Stay away from it if you are new to the game. Obtain QS report and add 10-15% on top for contingency.

(5)Sometimes simple thing such as easement construction, relocation of power pole, neighbouring dispute, or simple modification of DA can take 12-15 months to resolve issues and interest cost eat away profit.

(6) it appears that you may be going as JV or partner in this project. Try and seek legal advice as you will be signing legal agreement with developer. Do you know that if he go bankrupt in that case you may be liable for the whole project and may be more cost....