Why is due diligence important? Because in real estate and any other type of business deal you should be very careful to protect your investment.
You should always be careful to get as much information and understand as much as you can about what you buy.
What does due diligence mean? How can your protect your interests when you enter a contract?
Due diligence is important for real estate, business, and law. Indeed, any time you enter a contract you should take time to learn anything you can about the product or service you buy.
An alienation clause protects a lender in two important ways.
It ensures that they get paid first from the proceeds of a sale. It also prevents a buyer from assuming the seller’s loan.
It is different than an acceleration clause which allows the bank to foreclose.
Alienation real estate is important because these rights protect your ability to sell or gift your property to someone else.
An assignment clause in a real estate contract allows an investor to act as a middleman between a buyer and seller.
The investor finds motivated buyers and brokers a deal with buyer. They then assign the contract to the buyer and earn a fee.
Someone bought a house in my name. Are you a victim of a scam, or a beneficiary of a generous gift?
These types of scams are rare, but you should be careful if you are a victim. get sound legal advice before doing anything.
If you are the beneficiary of a generous gift learn about all the responsibilities associated with home ownership.
The title company needs a survey to protect you and your mortgage company.
Boundary issues are common and include easements, encroachments, and boundary disputes.
Sometimes you won’t even know about the problem until the surveyor precisely sets your boundary and building locations.
A residential real estate survey helps buyers uncover hidden boundary issues with the property they want to buy.
In many cases mortgage companies won’t underwrite a loan without a current survey.
Sometimes, extending the due diligence period is necessary if there is a major problem.
Don’t, however, let the other side procrastinate by agreeing to an extension without a good reason.
Many states and mortgage companies require a survey for real estate transactions.
Even if they don’t, though, you should consider getting one.
Easements, encroachments, zoning, and boundary problems are all issues a survey can expose.