“Due Diligence” Questions and Answers

The Offer to Purchase and Contract form (North Carolina Association of REALTORS®/North Carolina State Bar Association Form 2-T) defines “Due Diligence” under Terms and Definitions at Paragraph 1(h) on the second page. An expanded explanation of the term and the effects of its use follow: Q: What is “Due Diligence”? A: “Due Diligence” is the buyer’s opportunity to engage in a process of further investigation of the property and the transaction as described in the Offer to Purchase form within a period of time agreed to by the seller and buyer. Q: What might the buyer investigate during “Due Diligence”? … Continue reading “Due Diligence” Questions and Answers