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Updated over 3 years ago on . Most recent reply

Cameron Bevens's profile image
Cameron Bevens's profile image
Cameron Bevens
  • New to Real Estate
  • from Springfield, MO
  • Member since Dec 26, 2021
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Cameron Bevens's profile image
Cameron Bevens's profile image
Cameron Bevens
  • New to Real Estate
  • from Springfield, MO
  • Member since Dec 26, 2021
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Cameron Bevens
  • New to Real Estate
  • Springfield, MO
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Singular vocab word question

Cameron Bevens
  • New to Real Estate
  • Springfield, MO
Posted

What is a due diligence period?

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Danielle Jackson's profile image
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Danielle Jackson
  • from Phoenix, AZ
  • Member since Oct 4, 2021
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  • from Phoenix, AZ
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Danielle Jackson
  • Phoenix, AZ
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Danielle Jackson
  • Phoenix, AZ
Replied

A set period of time (usually 7-14 days but varies by state) after signing the contract that the buyer has to inspect the property, thoroughly review disclosures, review HOA docs, title search/survey, and any other research necessary. During this period if you decided to walk away, you would receive your earnest money back. If that period expires, and there are no other contingencies available, then you would most likely lose your earnest money.

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