Think of due diligence in real estate as doing your homework. Your homework includes scoping out the area, hiring inspectors, buying home insurance and more.Find asset purchase due diligence checklist lawyers for Ohio to hire. No cost to post a project to get multiple bids in hours to compare before hiring. A Due Diligence clause allows time for the buyer to obtain background knowledge about the property. Continuing Due Diligence. Homebuyers must then navigate the due diligence period, which allows them to inspect the property and review important information before closing on the sale. Homebuyers must then navigate the due diligence period, which allows them to inspect the property and review important information before closing on the sale. The purchaser must be willing to incur some up-front costs at the risk of discovering a condition that could lead to termination of the transaction. Due Diligence Period.