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If you are selling your property and the purchaser wants to include a Due Diligence clause, rather than reject their offer you may want to consider adding a This is a condition inserted for your benefit so if you receive another offer on the property that is your opinion more favorable you give the original purchaser (with the due diligence condition) a time of usually 3 days to go unconditional.If they are not able to go unconditional in this time frame then their agreement with you is at an end and you can go with the better offer.
Purchasing a property is a decision not to be taken lightly.A Sale and Purchase Agreement is a legally binding contract so it is only natural that purchasers are sometimes afraid of being tied into the agreement without having time to fully investigate the property, surrounding neighbourhood, rental/resale potential, cost of renovations and other issues.Since the last five years, Castleton based in India have made life easier for clients in UK, Germany and Australia by assisting them with bookkeeping, accounting & data management.Our accounting outsourcing service is accurate, dependable and flexible enough to stay aligned to your preferences.
They often take it as a sign that the purchaser is not serious about the property and is just wasting their time, even though this is often not the case.
Another reason for all the negativity surrounding due diligence is that certain property finders and operators of property investment schemes strategy has been to sign up an agreement with a due diligence clause and then use the time period to find another purchaser to buy the property from them (with a contemporaneous settlement) at an elevated price pocketing a tidy profit in the process.