The due diligence period is a designated number of days specified in the Purchase and Sale Binding Contract. During this period a Buyer may have any and all inspections (or not) they choose. These could be Home, Pool, Termite, Radon, Mold, Stucco, Roof and more. After such inspections the Buyer has the opportunity to negotiate repairs, remediation, compensation, lower purchase price, etc with the Seller. All negotiations must be agreed upon in writing before Due Diligence expires (which is midnight on said date). If the Buyer and Seller do not come to an agreement, then a Unilateral Notice to Terminate Purchase and Sale Agreement must be received and signed by all parties before expiration and all Earnest Money shall be refunded to Buyer. PLEASE NOTE, Buyer is entitled to 100% refund of Earnest Money during the Due Diligence Period for any reason whatsoever including simply changing their mind (buyer’s remorse) unless the contrary is written in the contract.
Call Top Agent Phylis Simoni at 404-456-2683 to learn the ins and outs of Buying or Selling a home.
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