YesterdayMay 26 at 8:21pm

Manage Discussion Entry

The Proverbs 31 woman would be sure to examine the field before she purchases it to include an analysis of the market, property, and financials. As learned in unit 5 all these key elements of due diligence are important to be completed before purchasing any property. Let's first consider the market analysis the Proverbs 31 woman would complete on the field before she purchases it, this analysis would include research to determine how many other fields are for sale in the area and what the community has to offer for her family.

Next, she must conduct a property analysis which consists of reviewing both governmental codes such as zoning and assessing the environmental status of the field. Before purchasing the field, the Proverbs 31 woman would review what the field is zoned for to make sure this aligns with her use. If she intends to use the field for farming it needs to reflect that use in the governmental zoning code. When it comes to reviewing the environmental status of the property, she would have phase reports conducted to better understand what environmental work might need to be done to remediate the property. "Under federal law, any owner of real estate with toxic waste is liable for remediation, even if that owner was not responsible for the discharge" (Editor, D.S.P.D.E.J., 2019, p 55).

The final analysis the Proverbs 31 woman should complete on the field before purchasing is the financial cost to complete the transaction. When she purchased the field if she plans to use it for a farm she will have to invest in equipment, seed, and fertilizers. However, if she plans to build a home, she must consider the cost of constructing the home as well as the mortgage she would obtain to ensure she is able to afford this purchase.

Housing construction cost (which is a critical supply-side factor) is the aggregate of the sum spent on the acquisition and preparation of land, procurement of building materials, labour and professional services as well as incidental expenses incurred in the processes of building construction" (Chiwuzie & Dabara, 2021, p 528).

Ultimately all three areas of due diligence will help the Proverbs 31 woman make her choice as to whether or not the field is a worthwhile purchase/investment for her family.