with a real estate attorney. They need to check into any problems with the title and the survey, any environmental or contamination problems, and if there are improper uses or encroachments affecting the property. All of those aspects can completely kill any deal. Then, get the paperwork and clauses reviewed and audited thoroughly by your team. If there are any tenants, contracts, or employees for maintenance on the property, they need to be closely reviewed as well. When choosing an attorney, your broker, as usual, will recommend one with real estate experience. Just like the accountant, attorneys specialize in certain parts of the law. Having a friend who does family law will not be a good choice for you here. Hire an attorney with experience and specialization in real estate. They don’t necessarily need to be local, but they need to know the state’s real estate laws inside and out. Selecting your title company is somewhat easy. By law, the title or escrow company has to be a neutral party. You can Google to find some certified ones in your area, or just use your broker to lead you in the right direction. There are some big advantages to working with title companies who are familiar with the city and state, so their experience, again, is something to look for.
Top Mistakes in Due Diligence Periods
THINKING LENDERS WILL ACCEPT ALL THIRD PARTY RECORDS AND REPORTS
This is why you use a certified neutral party for inspections and records checks. Just someone who the seller recommends won’t cut it.
Make sure the lender will accept your third party’s report before
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