Due diligence process before sale of property

Question: What preemptive steps shall be taken by the buyers and seller of a property?

Answer:

Due diligence is extremely important for each transaction therefore;

a)      Hire a lawyer  for the purposes of due diligence that is to verify title documents and ascertainment of property and to draft and vet sale agreement;

b)      To background check on parties to the transaction;

c)       To consider tax implications;

d)      To evaluate the market price of the property; and

e)      To execute the sale agreement in presence of witnesses.