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Property Due Diligence Checklist

Checklist · Acquisition · 33 items

Property Due Diligence Checklist

Everything to verify between going under contract and closing: financials, title, condition, tenants, market, and financing.

0/33 complete

Financials

0/6

Obtain the last 12–24 months of income and expense statements (rent roll and P&L)
Verify rents against bank deposits or lease agreements
Get the actual property tax bill and check for upcoming reassessment
Get at least two insurance quotes
Confirm utility costs and who pays each utility
Re-run your deal analysis with verified numbers

Title & Legal

0/6

Order a title search and review it for liens, easements, and encumbrances
Confirm the seller is the legal owner and authorized to sell
Check zoning and confirm the current use is permitted
Search for open permits and code violations with the city or county
Review HOA documents, rules, budget, and any pending special assessments
Obtain a survey if boundaries or encroachments are a concern

Physical Condition

0/5

Hire a licensed home inspector
Order specialty inspections as needed (sewer scope, roof, foundation, pest, radon)
Get contractor bids for any repairs identified
Confirm the age and condition of roof, HVAC, water heater, and electrical panel
Check flood zone status and disclosure history

Tenants & Leases (if occupied)

0/5

Review every lease: rent, term, deposits, and special terms
Collect tenant estoppel certificates
Verify security deposit amounts and how they'll transfer at closing
Check payment history and any current delinquencies
Identify any pending evictions or tenant disputes

Market & Neighborhood

0/5

Pull rental comps to confirm market rent
Pull sales comps to confirm value
Visit the neighborhood at different times of day
Review crime data, school ratings, and nearby development plans
Check landlord-tenant laws and any local rental registration or licensing requirements

Financing & Closing

0/6

Lock your rate and confirm loan terms in writing
Confirm appraisal is at or above the purchase price
Review the closing disclosure line by line
Set up landlord insurance to start at closing
Do a final walkthrough within 24 hours of closing
Collect all keys, codes, warranties, and vendor contacts

How to use it

Use this checklist between going under contract and closing. Check items off as you go.

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© 2026 Dylan Pettijohn. Content on this site is for educational purposes only and is not financial, legal, or tax advice.

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