Re: No due diligence-commercial

[Sol Baum]

Question: I'm an agent trying to deal with an owner on a small commercial prop says once a buyer signs LOI they can get any relevant leases do their due diligence as well as do their inspection before going to contract. Once its in contract there are no contingencies. This is how they handle all their deals. Buyer is saying heck no- Ill only spend money to do inspection and due diligence if the seller signs the contract of sale. And this is how he handles all his deals.. Whos right? And if their both right or wrong-how to handle this situation?

TIA

[Matthew Masoud]

I've never spent money on inspections/environmental before having the property under contract. Sharing leases, profit and loss sure but no inspection.