During which stage of the property sale process does due diligence occur?

Due diligence is a critical phase in the property sale process that primarily takes place after the buyer has made an offer and it has been accepted. This stage allows the buyer to thoroughly investigate the property and confirm its status before finalizing the sale. During due diligence, the buyer typically reviews various aspects, such as the property’s legal standing, financial records, physical condition, environmental assessments, and compliance with local regulations.

This investigation is essential to ensure that the buyer is making an informed decision and that there are no unexpected issues that could affect the value or enjoyment of the property. Engaging in due diligence after the offer has been accepted allows the buyer to better assess whether to proceed with the purchase, negotiate terms, or potentially withdraw from the deal if significant issues arise.