What describes the due diligence process in real estate?

The due diligence process in real estate refers to the period where buyers thoroughly investigate a property before finalizing the purchase. This comprehensive examination is critical as it allows buyers to identify any potential issues that could affect their investment. During this phase, buyers typically conduct various inspections, review documents related to the property, assess environmental concerns, and verify zoning regulations. The goal is to gather all necessary information to make a well-informed decision, ensuring that no unexpected surprises arise after the sale is completed. This proactive approach helps protect the buyer's interests and can potentially lead to negotiating repairs or price adjustments based on the findings.