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Due diligence money on commercial real estate

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  • Due diligence money on commercial real estate

    My fiance was involved in trying to purchase commercial real estate in Alexander County, North Carolina. The financing didn't go the way he wanted, partly due to the fact that the property owner's financials weren't what that should've been because of poor management. Now they're not signing the termination paperwork to release the due diligence money he put down. Anyone have any input or information to enlighten this matter??

  • #2
    The standard Purchase and Sale Agreement does not call for due diligence money. If they used a drafted agreement, they should probably have it reviewed by an attorney to determine how best to proceed.

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