due diligence V's research Whats the difference ?

[7DD4]

Seems most people in real estate use due diligence, whats wrong with research ?
Any reason ? Besides making them sound like property experts

 

[BMan]

anyone can research.... just because you have researched doesnt mean its right

due diligence is a refined type of research

basically it can mean the same thing as long as you know what your doing and looking for. eg
just like "morning tea" vs "smoko" both are a mid morning break just uses a different name

 

[pennyk]

From my perspective, research refers to something which is more general, eg rearching a suburb
But DD is about a specific property

But that's just how I separate them in my mind.

Some of the research topics might be the same eg background on suburb/ area etc. but DD would go a step further in comparing the specific property to hte overall sburb data.

 

[AlmostBob]

research finds the property is a good investment
due dilligence finds the good investment has an easement that allows bp to run a hi-pressure gas main under the house

as noted in prior replies, refiend(<<) refined research.

 

[lizzie]

To me, due diligence is detailed research on a specific property. Finding out all costs - rates, strata, water - maintenance issues - strata reports - rental returns - potential futher returns - reno potential - depreciation etc.

Research is what you do to find that property in the first place.

 

[Terry_w]

Due diligence is a close examination of all aspects of a transaction including checking legal aspects such as contracts, taxation aspects such as any duties payable, maybe back ground checks such as bankruptcy searches, asic searches etc. This information is then assessed and used in making offers and/or purchasing or selling.

DD is not just used in property but all business transactions.

 

[Aaron_C]

Agree with what everyone has said. DD implies specific examination of a particular deal, 'research' is just a broad statement.