Due dilligence and flipping - Posted by Demond White

Posted by Rob FL on April 10, 2001 at 19:34:16:

If you use a standard contract form (that used by your local Board of Realtors), it should have the necessary due diligence language already in it. In a nutshell, due diligence is verifying the information and the condition about the property/situation before buying it.

The standard Realtor contract should have such due diligence items as property inspection, marketable title, estoppel letters and leases on existing tenants just to name a few things. You definitely need these things when you are flipping.

Due dilligence and flipping - Posted by Demond White

Posted by Demond White on April 10, 2001 at 18:54:51:

Is due dilligence a neccesary clause to put in my purchase agreement for properties I’m going to flip? Can you please explain what due dilligence is? Thank You for any help.