Due Diligence is that portion of the real estate purchase process that means taking caution, performing calculations, reviewing documents, procuring insurance, walking the property, performing inspections, etc. – essentially doing your homework to better understand the property you may have under contract BEFORE you actually make the purchase. If there are too many issues with the property – and that means too much potential risk and – or unexpected costs – then you can cancel your purchase agreement and look for a better property. Every real estate transaction is different and requires a unique due diligence plan.