Buying a Home in NC - Due Diligence Period and Due Diligence Fee 

Buying a Home in NC - Due Diligence Period and Due Diligence Fee
Are you considering purchasing a home in North Carolina? If so, are you familiar with the Due Diligence Period and Due Diligence Fee?
A Due Diligence Fee is a payment made to the SELLER by the BUYER when the contract is executed. That payment can range from $200 to $2000 depending on the situation and agreement upon amount in the terms of the contract.
The Due Dilience period begins once the contract is executed and can be several days to several weeks. During this period, the buyer has the right to inpsect and investigate the property to ensure this is the right property for them.
If for any reason the buyer decided to walk away from the contract DURING DUE DILIGENCE, the seller KEEPS the due diligence fee.
However, should the buyer move forward with the purchase, the Due Diligence Fee gets credited to them at closing. Think of this fee as a "Thank you Mr or Mrs Seller for taking your home off the market while I do my homework!"
Bill Corbett
Realtor®/Broker/Owner
Port City Living
I’m a full time Realtor® in the Greater Wilmington area with Port City Living at Fathom Realty,
Born and raised. Love the beach and love showing new comers my gorgeous City!
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