Buyers Due Diligence in Real Estate
What exactly is due diligence? In simple terms it is the investigation of a property that is performed by a buyer in order to determine whether or not they want complete the contract.
In North Carolina, the Offer to Purchase a property has changed dramatically in the last year, and more emphasis is now being placed on the buyer to perform Due Diligence on the property prior to finalizing the offer. They are given a specific time period in order to investigate the home, with the use of Home Inspectors or Engineers, perform radon testing, and basically leave no stone unturned. By the end of this investigatory period, the buyer should be aware of any issues and let the sellers know if the sale will continue.