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Buyers' Due Diligence is a time period after you go under contract that the buyer has to inspect the property. During this time the buyer can cancel the contract if something comes up that is not to their expectation about the property. Usually, this time is about 7-10 days at the beginning of the contract.
An appraiser is an independent 3rd party usually hired by the mortgage company that will evaluate the property and ensures its value. If you're getting a mortgage on the property they will most likely require this to ensure the value. If you're paying cash you can opt-out of this however for the small price to be paid for the evaluation it's nice insurance to make sure the value of the property is in line with the contract amount.
Anyone can do an inspection. You can technically do an inspection yourself on the property. If you know someone who is a general contractor they could also do an inspection very easily. However inspectors have a long list of items they check for and have built that over time to ensure they are fully checking out your property. I highly recommend getting an inspector to complete your inspection. Its always good to have a second set of eyes that will look for things you may have missed.
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