Step 5 – Due Diligence

With a negotiated agreement in hand, it is important to complete the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. We can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will usually have a 7-15 day period within which to conduct your inspections.

After you have completed the inspections, you may either accept or reject the property based on the inspections, or you may renegotiate with the seller based on items that have come up in the inspections.

You will also have a period of time within which to complete your financing. This will always include an appraisal of the property by the bank and completion of any necessary documentation or paperwork to obtain your loan.