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Due Diligence in Real Estate

AAOA

Due diligence is a critical step in purchasing real estate. Its your chance to check out a property before sealing the deal, ensuring the buyer and seller are fully informed. Either way, due diligence protects your investment, is an integral part, and ultimately gives you peace of mind.

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Home, Sour Home: How Homebuyers Can Avoid a ‘Lemon’

HomeLight

Seller disclosures. In many states, seller disclosure forms are required to complete a real estate transaction. Each state has different requirements , but basically the seller is required to tell the buyer of any known problems with the house. That’s why due diligence on the part of a homebuyer is vital.

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How to Spot Serious Foundation Trouble

Hank Miller Team

There are more buyers waiving due diligence and purchasing homes "as is" than ever before. Don't rely on seller disclosures and if inspections are waived, buyers likely have little recourse as a lawsuit can be very hard to win in a "buyer beware" state like Georgia.

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Ask Brian: Home Buyer Beware

Realty Biz

As a general rule, the obligation is on the buyer to do their due diligence before closing on the purchase of a property. The first thing you want to do is fully understand the seller disclosure laws that apply to any house that you are looking at. You don’t want to skimp on the inspection.

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What Legal Documents Will You Need for Buying a House? Here’s Your List

HomeLight

Some states require sellers to fill out a seller disclosure statement documenting known repair needs or health and safety hazards in the home. This can include anything from knowledge of lead-based paint or asbestos, to the seller’s awareness of water damage in the basement, a leaky roof, or damaged plumbing.

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How to Buy a Home Without a Real Estate Agent

Redfin

It also reassures the seller that you can back up your offer, which is especially important when buying a house without a realtor as it confirms that you’re a serious and qualified buyer. Review the seller disclosure . Make and negotiate an offer. Once you find the right home, you’ll want to make an offer.

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Find Cash Home Buyers in Orlando for a Fast, Simple Sale

HomeLight

The buyer does due diligence during the option period in Florida. The option period is negotiated between buyer and seller. Cash buyers may want three to 10 days, or even none at all, for due diligence, while this period is typically 15 days for an agent-assisted sale.

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