So you’ve found the perfect house and you’re ready to make an offer. What in the world is this Due Diligence Fee I have to pay?
When you make an offer on a house, a due diligence fee is a specific amount of money that the buyer is willing to give the seller in exchange for them taking the house off the market and allowing the buyer a certain period of time to perform their due diligence on the property. That period of time can vary but 3 weeks is pretty typical. It’s during the due diligence period where a buyer will do a home inspection, a termite inspection, a radon inspection, or any other inspections that may be necessary. It’s during this timeframe, that your lender will also do the appraisal.
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