2007-03-26 07:55:53 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Due diligence (also known as due care) is the effort made by an ordinarily prudent or reasonable party to avoid harm to another party or himself. Failure to make this effort is considered negligence. Quite often a contract will specify that a party is required to provide due diligence.
2007-03-26 12:23:49 · answer #1 · answered by realestate_help 1 · 0⤊ 0⤋
It basically means that you need to do your homework about the deal. That it's your responsibility to make sure that everything is okay. This term is often used when someone is buying a property on a land contract or with a quit claim deed because the seller is usually selling the property "as is".
Take care.
2007-03-26 08:24:30 · answer #2 · answered by Mary R 5 · 0⤊ 0⤋
It depends on what it's referring to. If it's referring to the sellers needing to have "due diligence" to repair what you have requested it means they need to do it as quickly as possible. At least that's the impression I'm under.
2007-03-26 08:01:25 · answer #3 · answered by peapod_mommy 2 · 0⤊ 0⤋
contract due diligence if buyer appraisal is low
2016-10-20 03:18:52 · answer #4 · answered by Paula 1 · 0⤊ 0⤋