Kick the Tires and Check under the Hood: Due Diligence Provisions in Pennsylvania Agreements of Sale; Posting 1 of 3
You would never buy a used car without first having it thoroughly inspected. Purchasing a piece of real estate should not be any different. The due diligence provisions of an agreement of sale are like taking the used car to your mechanic, a way you can investigate a potential property prior to closing. I recently gave a presentation called “Real Estate For In-House Counsel: An Examination of Title Issues, Contracts and Negotiations in Real Estate Deals” at the Association of Corporate Counsel (Delaware Valley Chapter)’s 2nd Annual In-House Counsel Conference in Philadelphia, Pennsylvania. My co-panelists were Michael Moyer of Land Services USA, Inc. and Aileen Schwartz of Hill International. The drafting and negotiation of due diligence language in an agreement of sale was one of the main focuses of our seminar.