To most sellers particularly non-accredited real estate salesperson are not familiar with such activity even with some PRC licensed real estate brokers who are only doing project selling which does not require much due diligence as long as real estate developers are compliant with Housing and Land Use Regulatory Board (now known as Department of Human Settlements and Urban Development - DHSUD) requirements before selling such properties like copy of License to Sell (LTS) which we also ask the marketing officers of land developers to give us before getting ourselves accredited and sell the project. This is one such example of conducting due diligence in what we in the real estate selling practice do is ask for an LTS before getting ourselves accredited with a developer.
However in resale properties (real estate properties with private owners and no longer under the developers' disposition) the performance of due diligence is very important and should be conducted by real estate professional in investigating a real estate property.
