The working, not just the conclusion.
- Brief alignment. How the property tests against the written brief: location, type, budget, timing, strategy.
- Catchment & suburb signal. Vacancy, days on market, median trajectory, infrastructure and supply pipeline, sourced and dated.
- Land & structure. Lot size, orientation, slope, footprint, age and the land-to-asset ratio that drives long-run growth.
- Building, pest & strata. Independent inspection, defects, moisture, hazard materials; strata search, minutes, sinking fund and disputes where relevant.
- Comparable sales & yield. Settled comparables for the same product type, with rationale; rent, gross/net yield and holding-cost stress on investor briefs.
- Risks & hazard. Flood, bushfire, coastal, contamination, planning overlays and insurance availability.
- Recommendation. Proceed at $X with conditions, proceed on renegotiation, or walk away. Written, not implied.