Great videos. I think the concept of Due Diligence is flawed however. Buyer having to give up funds before knowing anything about the property through Inspections seems odd. We don't know about a roof, HVAC, plumbing, electrical, etc. Sellers don't have to agree to repair anything. Backwards I think.
Due diligence money is only paid by buyers who are committed to buy the property. The earnest money is the refundable part. Dueo diligence payments are not required to be part of your contract.
It would be nice if they would change the terminology so the due diligence payment would become the non-refundable payment and that the earnest money deposit would now become synonymous with due diligence deposit which IS refundable during the due diligence period. Since the due diligence period is the correct name for that period which applies towards earnest money it might as well also call it the due diligence deposit. Oye vey
Keep these going..I love the nerdy stuff..the more intricate the better
Great info. Thanks.
Glad it was helpful!
Great information. I’m about to watch part 2.
This is awesome!!! Thank you much. Wish the volume on video would work when watching on actual TV.
Great videos. I think the concept of Due Diligence is flawed however. Buyer having to give up funds before knowing anything about the property through Inspections seems odd. We don't know about a roof, HVAC, plumbing, electrical, etc. Sellers don't have to agree to repair anything. Backwards I think.
Due diligence money is only paid by buyers who are committed to buy the property. The earnest money is the refundable part. Dueo diligence payments are not required to be part of your contract.
It would be nice if they would change the terminology so the due diligence payment would become the non-refundable payment and that the earnest money deposit would now become synonymous with due diligence deposit which IS refundable during the due diligence period. Since the due diligence period is the correct name for that period which applies towards earnest money it might as well also call it the due diligence deposit. Oye vey
Please help ironland
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