What is meant by completion of due diligence by buyer when purchasing a home?

Asked by Dale, Abington, MA Sat Feb 14, 2009

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Michael Giles, Agent, Beverly, MA
Sun Feb 15, 2009
BEST ANSWER
Hi Daynna,
When buying any home, there are cerain things that you should look into before making the purchase. You want to make sure that you have as much information on the property as possible in order to make an informed decision. These include, but are not limited to reviewing the file at the building inspectors office, confirming any history of underground oil tanks at the fire prevention dept., reviewing the assessors map and prior deeds for any easments on the property etc.... With a condominium it is crucial to get copies of all of the condo docs. Master Deed, Declaration of Trust, Bylaws and Rules and Regulations. Read through these carefully as they will outline how the association is run and what you can and can not do in relation to the condo unit and common areas. Good Luck!
1 vote
Dallas Texas, Agent, Dallas, TN
Sun Feb 15, 2009
Per executed agreement between buyer and seller you are obligated by contract for certain performance during term of contract. If either party does not perform one party COULD sue other party.

If you have any questions speak with your realtor or attorney.

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0 votes
William Brok…, Agent, Jamaica Plain, MA
Sat Feb 14, 2009
This is probably a reference to your right to a home inspection and the other tests, and information that one should look into when purchasing a home. The "detective work", if you will. Interview a good Buyer's Agent and they'll tell you all about it.
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