Due Diligence - Due Diligence Legal Environmental Before...

Info icon This preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Due Diligence Legal & Environmental: Before You Buy. 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 other issues.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
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
Image of page 2
An example of an obviously “sick” tree. 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).
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern