This page contains Due Diligence clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.When purchasing commercial real estate, you should include a due diligence period as a crucial element in your negotiations and in the contract. Due diligence is a process. Through this process, the client and its counsel obtain, assess and evaluate available information pertinent to an. 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. A Due Diligence clause allows time for the buyer to obtain background knowledge about the property. Attorneys must complete the customary land use due diligence review that would be completed in almost any commercial real estate acquisition. Need to back out of a real estate contract with due diligence clause.