- LANTERN PHILOSOPHIES
- PROPERTY SELECTION PROCESS
- LANTERN DUE DILIGENCE
- CURRENT PROJECTS
- PREVIOUSLY RECOMMENDED PROPERTY
Lantern Due Diligence
By following our strict due diligence procedures, we ensure that each purchase is correct, that no detail has been overlooked and that you, our client, is carefully protected.
The Lantern due diligence process is divided into three distinct areas:
- The Property
- The Paperwork
- The People
Every property selected by Lantern, whether Recommended or Endorsed, is thoroughly assessed during our due diligence process. This includes reviewing its location, external and internal design and function, finishes and fixtures and the overall suitability of the property for purchase.
Specifically, when assessing the property itself, the two most important factors we consider to ensure the property is suitable for your clients to purchase are the value of the property and our negotiated terms and conditions.
We need to be in no doubt that your clients purchase each property at market value or less. We are able to demonstrate this essential pre-requisite with every property we recommend by direct property comparisons, by our accrued knowledge or by independent valuations.
Purchasing a property is a substantial and important transaction for any individual. Being certain all the paperwork and related issues are correct for your clients is the only standard Lantern will accept.
To that end, we have a panel of independent legal practices in Sydney, Melbourne and Brisbane with the responsibility of dissecting every contract and all surrounding documents or issues. This ensures your clients are properly cared for throughout each transaction.
If there is a need for further or better terms and conditions in a contract or paperwork, our nominated lawyers will inform us and we will then negotiate with the vendor to achieve the most favourable outcome. If what is requested of our lawyers is not possible, we do not permit your client to proceed with purchasing that property.
To achieve a substantial advantage in terms and conditions and to be granted first access to quality properties, the best scenario may mean purchasing a property before it has been developed.
In these instances, careful and precise investigations and assessments of all the details about what is to be developed is the only standard. Included in those investigations and assessments are rigorous judgments about the people or organisations developing the property.
The developer is the most important of these entities. Their financial strength, experience, ability, reputation and integrity are all essential and important issues that fall within our due diligence investigations and judgments.
The other two entities we carefully consider when a property is to be developed is the architect and the builder; both are crucial to the outcome. It is worth noting that an A-grade developer will never engage a B-grade architect or builder, and our standard at Lantern is to have your clients only purchase property being developed from A-grade developers.