Due diligence for auction finance is essentially about reducing risk and involves two main components: the borrower's ability to repay the loan and the property itself.
1. Borrower's due diligence: The lender will assess your creditworthiness, which may include checking your credit score, reviewing your income and expenses, and looking at your financial history.
2. Property due diligence: The lender will want to ensure the property provides adequate security for the loan. This could involve a valuation survey to assess the property's market value and a structural survey to identify any potential issues with the property.  The aim is to ensure the property is a good investment and the borrower is financially capable of repaying the loan.