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What Is Due Diligence in Real Estate?
Due diligence is the window between offer acceptance and commitment where buyers evaluate what they are actually buying. Here is what that process looks like and what it protects you from.
Video coming soon
The key takeaways are below in the meantime.
Written by Bri Bond-Erwin
Key Takeaways
- Due diligence in real estate refers to the process of thoroughly evaluating a property before fully committing to the purchase
- The due diligence period typically begins after offer acceptance and must be completed within a defined deadline in the contract
- During due diligence, buyers commonly conduct a home inspection, review property disclosures, and research the property and neighborhood
- The home inspection is one of the most important parts of due diligence for most buyers
- Due diligence protects buyers by giving them time to uncover issues and decide whether to proceed, negotiate, or exit
- What rights you have during due diligence and how long it lasts depend on the specific terms in your contract
Transcript will be available when the video is recorded.
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