How Does Due Diligence Work in Real Estate?Posted by Mike Ciucci on
When you make an offer on a home in Charleston- or even South Carolina, there are different contingencies that should be apart of any real estate contract. Typical contingencies such as a home-sale, financing, appraisal, and inspection contingencies. So what about due diligence, where does that fit in?
Regarding the home inspection contingency in paragraph 8 of the South Carolina contract, you typically can go one of two ways. Either a Repair Procedure, or a Due Diligence Addendum.
The repair procedure spells out how long you have to complete any home inspections, but it specifically states in the contract which items are to be addressed. Typically, these are major home items/systems such as Heating & Air systems, plumbing, electrical systems,…
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