Do you know what a due diligence clause in a real estate contract is and how it can be beneficial? Most buyers don’t. Due diligence is a process where a buyer takes various actions to determine whether a property is suitable for their needs – and these actions are for more than just inspections alone. A due diligence clause allows the buyer to walk away or better negotiate in the event they find the property unsuitable. A seller may grant this right to the buyer for free or they may charge a nominal fee, giving the buyer “optionality”, which is obviously valuable to the buyer but may also relieve the seller of some liability.
When negotiating your largest assets, it’s all about what you know and having an expert advocate on your side. This is what we do and what we love to do! Be sure to contact us if you are considering buying or selling… (803) 397-1001.