Belchertown State School site redevelopment highlights the importance of due diligence when buying or selling real estate Reply

The lack of progress of the redevelopment of the former Belchertown State School is a basic case of a lack of due diligence.

The lack of progress redeveloping the former Belchertown State School site is a basic case of a lack of due diligence.

The redevelopment of the former Belchertown State School property is a classic case of what results when a buyer and a seller fails to conduct due diligence when buying or selling real estate.  Not only does a buyer need to investigate the property they are purchasing, but the seller needs to ensure a buyer’s ability to perform.  The quasi-governmental organization that owns the property has failed to perform adequate due diligence as a buyer and as a seller since taking ownership of the property in 2002, which has cost them money and has significantly slowed the process of redeveloping the site.  More…