Chapter 14
Due Diligence, Property Inspections, and Closing
IN THIS CHAPTER
Getting the ball rolling on escrow
Taking care of your due diligence and property inspections
Renegotiating the deal or seeking credits in escrow
Considering various title-holding arrangements
Finishing up the transaction
Your work as a buyer is just beginning when you have an accepted offer for your proposed acquisition, the property is under contract, and an escrow account has been opened. You control the property and can begin to determine whether the seller has accurately represented it.
In Chapters 11 and 12, we cover the pre-offer due diligence, which is essential in weeding out properties that clearly fail to meet your investment goals. Now the formal due diligence period begins. Due diligence is the pre-escrow closing process you (and/or your representatives) perform to investigate the property’s physical and fiscal condition.
Only complete the transaction if the property physically and fiscally meets ...
Get Real Estate Investing For Dummies, 4th Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
