Due Diligence

Posted on April 26, 2012 by Bedfordlandings

There is a component in the North Carolina real estate contracting process called Due Diligence. Once a contract is signed, the seller can walk away from the deal for any reason up until the due diligence date.  Our date is May 7th.  During this time, multiple inspections are made. This week, we have had Termite, Well and Septic inspections, as well as the Mechanicals inspections.

We have made it through the inspections with minimal things to repair but there are a few things the buyers want, like us to pump out the septic system.  Why do a number of things come to mind I could comment about on that?  At any rate, the pumpers are due today as is the exterminator for extra assurance.  An itemized quote will come in tonight for small repair items.  

I have 3 quotes thus far from movers and one left to come in.  Did you know that storing our furniture and boxes with a Moving and Storage Company for a year is estimated to cost $13,500?  Geez…so we will check out other avenues.  I want to be very careful about movers as my brother had a recent bad experience with a rolled truck with their belongings resulting in much breakage and heart break.  The company apparently brokered the work to another (less competent) company.  The contracted insurance coverage amount was not worth the paper it was printed on and no settlement has been reached yet…so I have quotes from lesser known as well as major companies (United and Mayflower.)

This week will be busy as we search for storage in Moneta for Jack’s airplane parts for the RV-10, locate local storage for our belongings, finalize the due diligence period requests, and plan a fly-in at the Smith Mountain Lake Airport for Saturday May 5th.

Until later…

One Comment

Denise Moline on April 27, 2012

So fun to read about the start of this amazing adventure you're just beginning... living the dream! Thanks for sharing how to find your blog tonight at choir.

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