Due Diligence?

Due diligence is the process by which confidential legal, operational and financial information is exchanged, reviewed and appraised by the buyer prior to the acquisition of the property. RE/MAX Premier Associates provides an excellent service by leading the due diligence process relying in outside experts to complete each of the necessary tasks: Legal, Accounting, Engineering and Environmental.

Buyer shall have a due diligence period to conduct any and all inspections. In the event as a result of the inspections, at Buyer's sole and absolute discretion, Buyer elects to terminate the Contract, Buyer shall notify both the Seller and the Escrow Agent in writing, whereupon the deposit shall be returned in full forthwith to Buyer.

Typical Due diligence list:
In order to perform a comprehensive and effective due diligence, the Buyer upon execution of the sale purchase agreement, will require the following:

1- Most recent survey

2- Most Recent environmental

3- Title Insurance

4- Certified Rent Roll

5- All leases with their corresponding addendums and/or amendments.

6- All current service contracts.

7- Management contract.

8- Monthly Florida sales and use tax returns from the last three (3) years

9- Copies of Monthly Bank statements and reconciliations from last year.

10- Copies of deposit slips from last year..

11- Detailed year to date general ledgers for previous year, an interim current
      year.

12- Federal and State Income tax returns from last three (3) years.

13- List of personal property, if any, and copies of the Florida tangible tax (and
     assessment) for previous year

14- Copies of accounts receivable and accounts payable aging reports as
      current as possible.

15- Copies of Real Estate Tax Bills for previous year

16- Copies of last three months utility bills.

17- Copy of the previous year, CAM reconciliation.