When it comes to buying property, many people think due diligence is just checking if the house looks nice or if the price feels right. But the reality is, it runs way deeper than that. In this episode, we take you through our 109-point due diligence checklist—yes, 109 points—and share what really goes into properly evaluating a property.

We dig into why so many buyers, and even some buyers’ agents, miss crucial details that can lead to expensive regrets. From spotting dodgy renovations and unapproved works to reading contracts carefully, we show that it’s not just about ticking boxes—it’s about genuinely understanding the risks and avoiding mistakes that could haunt you later.

If you think you can skip a few steps and still be fine, think again. We share real-world examples of how people have been burned by “hot market blindness” and the dangers of rushing through due diligence. Our goal is to help you buy with your eyes wide open, so you’re not left asking, “Why didn’t anyone tell me that?” down the track.

Episode Highlights:

00:00 - Introduction

02:07 - How to approach a property inspection when buyers are rushing from viewing to viewing

04:54 - Dealing with deal breakers even when the client loves the property

08:50 - Why Veronica insists on multiple property visits and internal collaboration

10:40 - Veronica explains when and how pricing considerations come into play

13:28 - Uncovering overlooked details in vendor disclosure documents

16:44 - Veronica breaks down the risks associated with unapproved modifications

18:09 - Getting client buy-in before diving deeper into due diligence

21:18 - Diving deep into legal due diligence

23:43 - Why due diligence for strata properties demands extra attention

34:33 - How Veronica manages pricing expectations while dealing with agents

45:37 - The importance of building and pest inspections — choosing the right inspectors

48:30 - How to approach properties with slim chances of success but significant potential

53:23 - Additional points from Veronica

Resources:
Visit our website https://www.theelephantintheroom.com.au
If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast questions@theelephantintheroom.com.au
Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
Work with Veronica: https://www.veronicamorgan.com.au
Looking for a Mortgage Broker? https://www.alcove.au
Work with Chris: chrisbates@alcove.au

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!
Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

When it comes to buying property, many people think due diligence is just checking if the house looks nice or if the price feels right. But the reality is, it runs way deeper than that. In this episode, we take you through our 109-point due diligence checklist&mdash;yes, 109 points&mdash;and share what really goes into properly evaluating a property.
We dig into why so many buyers, and even some buyers&rsquo; agents, miss crucial details that can lead to expensive regrets. From spotting dodgy renovations and unapproved works to reading contracts carefully, we show that it&rsquo;s not just about ticking boxes&mdash;it&rsquo;s about genuinely understanding the risks and avoiding mistakes that could haunt you later.
If you think you can skip a few steps and still be fine, think again. We share real-world examples of how people have been burned by &ldquo;hot market blindness&rdquo; and the dangers of rushing through due diligence. Our goal is to help you buy with your eyes wide open, so you&rsquo;re not left asking, &ldquo;Why didn&rsquo;t anyone tell me that?&rdquo; down the track.
Episode Highlights:
00:00 - Introduction
02:07 - How to approach a property inspection when buyers are rushing from viewing to viewing
04:54 - Dealing with deal breakers even when the client loves the property
08:50 - Why Veronica insists on multiple property visits and internal collaboration
10:40 - Veronica explains when and how pricing considerations come into play
13:28 - Uncovering overlooked details in vendor disclosure documents
16:44 - Veronica breaks down the risks associated with unapproved modifications
18:09 - Getting client buy-in before diving deeper into due diligence
21:18 - Diving deep into legal due diligence
23:43 - Why due diligence for strata properties demands extra attention
34:33 - How Veronica manages pricing expectations while dealing with agents
45:37 - The importance of building and pest inspections &mdash; choosing the right inspectors
48:30 - How to approach properties with slim chances of success but significant potential
53:23 - Additional points from Veronica
Resources:
<ul>
<li aria-level="1">Visit our website <a href="https://www.theelephantintheroom.com.au">https://www.theelephantintheroom.com.au</a></li>
<li aria-level="1">If you have any questions or would like to be featured on our show, contact us at:&nbsp;The Elephant in the Room Property Podcast <a href="mailto:questions@theelephantintheroom.com.au">questions@theelephantintheroom.com.au</a></li>
<li aria-level="1">Looking for a Sydney Buyers Agent? <a href="http://www.gooddeeds.com.au/">https://www.gooddeeds.com.au</a></li>
<li aria-level="1">Work with Veronica: <a href="http://www.veronicamorgan.com.au">https://www.veronicamorgan.com.au</a></li>
<li aria-level="1">Looking for a Mortgage Broker? <a href="https://www.alcove.au">https://www.alcove.au</a></li>
<li aria-level="1">Work with Chris: <a href="mailto:chrisbates@alcove.au">chrisbates@alcove.au</a></li>
</ul>
Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!
<ul>
<li aria-level="1">Subscribe on YouTube: <a href="https://www.youtube.com/@theelephantintheroom-podcast">https://www.youtube.com/@theelephantintheroom-podcast</a></li>
<li aria-level="1">Subscribe on Apple Podcasts: <a href="https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719">https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719</a></li>
<li aria-level="1">Subscribe on Spotify:&nbsp;<a href="https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765">https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765</a></li>
</ul>

Who's really in control when you buy a property?

The Elephant In The Room is where the things that no one wants to talk about, actually get talked about.  

Veronica Morgan, real estate agent, buyers agent and co-host of Foxtel’s Location Location Location Australia & Chris Bates, financial planner, mortgage broker and wealth coach have joined forces to find out what’s really going on in the world of real estate.

Veronica and Chris talk to property owners and buyers every day in their respective lines of business. They’ve observed a wide spectrum of confidence in people’s decision making ability when buying and selling property, often to the detriment of the individuals concerned. They are both fascinated by consumer behaviour and together they’re going to uncover who’s really making the decisions when you buy a property.

In each episode they get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about how buyers are influenced and why they do the things they do. In every episode you’ll learn from the mistakes of a “property dumbo” as well as Chris & Veronica’s “elephant rider bootcamp” training session.

The plan? This property podcast has been created to help us all make better property decisions!

We talk about the things no one wants to talk about in the Property Market

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