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Updated about 3 years ago on . Most recent reply
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Singular vocab word question
What is a due diligence period?
Most Popular Reply
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A set period of time (usually 7-14 days but varies by state) after signing the contract that the buyer has to inspect the property, thoroughly review disclosures, review HOA docs, title search/survey, and any other research necessary. During this period if you decided to walk away, you would receive your earnest money back. If that period expires, and there are no other contingencies available, then you would most likely lose your earnest money.