Due Diligence - Due Diligence Legal & Environmental:...

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Due Diligence When you purchase land or a home, a real estate attorney is supposed to conduct title research to insure that the property is “Free and Clear” of challenges (“clouds”) before you commit to the purchase. If any problems (liens, judgments, unpaid taxes, etc.) are found, they are either resolved before the sale or they are noted as exceptions in the new owner’s title (warranty deed). The attorney will also notify you of existing easements (Rights-of- way, utilities, riparian boundaries, etc.) and
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Most mortgage lenders now require termite inspections if nothing else. Home inspections should go further to look for potentially expensive present or near future problems, e.g., foundation settling, roof problems, toxic mold, basement leakage. Outside, if there are existing, older trees, perhaps an arborist (see yellow pages or County Extension Agent) might be needed to look for signs of diseased, damaged trees (next slide) adjacent to home or adjacent to adjoining properties. 2
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If a healthy tree falls during a storm, it is consid- ered “an act of God”, relieving you of most liability (consult an attorney for clarification). If an
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This note was uploaded on 04/01/2008 for the course MIST 2101 taught by Professor Serrano during the Spring '08 term at University of Georgia Athens.

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Due Diligence - Due Diligence Legal & Environmental:...

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