If you are working with a good buyer’s agent, they will guide you through this next phase called your “due diligence period.”
In your offer to purchase contract there will be several important dates. But to make things simple you will have about 2 weeks from the acceptance of an offer to perform your due diligence.
In that 2 week time period you will have an opportunity to complete the following:
As soon as your offer is accepted you will be asked to order your home inspection.
No home is perfect and your expectations regarding a home inspection should be realistic, once you do this, you can hire the https://www.abelinspections.com.au/ team. You are looking to see if there are any serious defects to the property that could not be seen during a normal tour of the home. But it is also a time for you to start learning about your new home. If any items need further investigation, this is the time to have the appropriate professional come to the property and give recommendations.
Any “renegotiations” would occur at this time.
You may also have your attorney review and answer any questions. Part of your offer will contain a clause that requires these documents to be produced in a timely manner – giving you an opportunity to review.
This is the last part of the due diligence time period. If you are satisfied with home inspection and condo documents, your real estate attorney and the seller’s attorney will review and make changes to the Purchase and Sale. They use the offer to purchase as a reference. Once the attorneys have agreed to a purchase and sale, they will review with you and answer any questions prior to you meeting with your agent to sign.
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The only contingency that should remain at this point is your mortgage commitment date.
