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Buying a home can involve inspections, financing, appraisals, insurance, title work and numerous deadlines.

One particularly important part of a South Carolina real estate transaction is the due diligence process.

What Is Due Diligence?

Simply put, due diligence gives buyers an opportunity to investigate a property and gather information needed to make informed decisions, subject to the terms of their contract.

Depending on the property and transaction, buyers may want to investigate the home’s condition, systems, property boundaries, insurance availability and other issues.

Deadlines Matter

Real estate contracts contain important dates and obligations. Missing a deadline can have consequences.

That’s why buyers should understand their contract rather than assuming they can simply “change their mind” at any point during the transaction.

Professional Guidance Matters

Your REALTOR®, lender, inspectors, closing attorney and other professionals each play different roles in helping you navigate a transaction.

PRAR’s Bottom Line: Don’t treat due diligence as a formality. Use the opportunity to become an informed buyer and understand your contractual obligations.

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