real estate

Just another WordPress.com weblog

Due Diligence Period Benefits Both Buyers & Sellers March 5, 2011

Filed under: Uncategorized — donnasheppard @ 9:35 pm

According to our new contracts as of January 1, we now have a “due diligence” period & fee.  Most realtors are excited about this.  Of course, it’s a learning curve for all of us realtors.  What it means is our buyers now have a period of time that is agreed upon by both parties to “do our homework” on this house.  That includes everything from getting total loan approval, appraisal, inspections, researching HOA’s, schools, etc.   How much is the fee?  It’s negotiable……perhaps $30/day depending upon how many days the buyer needs to get his homework done.  This should be a good thing for everyone!

Advertisements
 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s