While most real estate transactions will have a ‘Full-Disclosure’ clause, there should still be an adherence to the phrase ‘Due Diligence,’ meaning it is your responsibility to understand exactly what you are a buying and, most importantly, that any and all legal requirements regarding the land and any structures are compliant with all laws and regulations.
Most of you have heard the phrase ‘Due Diligence,’ but in a state like California, the phrase ‘Environmental Due Diligence’ (EDD) is extremely important. On a federal level, there is the Environmental Protection Agency, an environmental regulatory commission on a state level and local municipalities. As you’ve probably heard or read in the news, California has some of the most stringent regulations regarding the environment. Continue reading