Development Services for Modern Architecture: Due Diligence

Due Diligence

The due diligence period is the period between an accepted offer and closing on the property. The purchase deposit will be held in escrow typically for 30-60 days to allow for a thorough evaluation of the property to keep the seller honest before the sale closes.
The necessary due diligence steps will differ significantly for each unique site. However, whether there is an existing building on the property or it is an empty piece of land, we can oversee the process and eliminate any surprises after the closing.

What To Expect

For nearly all properties, it is essential to examine things like title reports, environmental reports, property surveys, and contamination or soil boring tests. However, if there is an existing structure on the property, another series of steps is vital to ensure the security of your investment.
These steps might include hiring a good inspector, running asbestos tests, resolving issues with neighbors, or identifying any liens against the property. We will also double-check all of our findings from the feasibility studies and re-confirm your zoning rights.

What We Need

The due diligence process is on a legal deadline (often only 30-60 days). Therefore we will need quick communication to ensure all tests are completed in time. If there are adverse findings in this process, our studio will either suggest that you renegotiate with the sellers or withdraw your offer entirely. To receive a full refund of your deposit and back out of the contract, we will need to prove that the findings are beyond the specified terms of the agreement.