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New Contract Changes affect how you buy and sell a home in North Carolina, Due Dilligence fee

By
Real Estate Agent with All-Star Powerhouse

The Due dilligence fee can (technically) be $0.  We think it may be moving towards more earnest money being put down to make the offer more serious. If the buyer is saying they will get a 90% mortgage, if representing the seller, I would be asking for 10% down. Often here, earnest money is $500 or $1,000 and if you have worked in different States you know how low that is. After all, the buyer can now walk away after the due dilligence period with no questions asked - ie for any reason - and get their earnest money back, as long as the contract is terminated by 5pm on the final day.

Use TAGS 'New Contract in NC' to see other posts on this issue

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Sincerely,

Rowena Patton
Broker/Owner
All-Star Powerhouse @ Keller Williams
#210, 56 Central Ave, Asheville NC 28801

(828) 210-1648

Email: Request@PattonPropertyGroup.com