Understanding Due Diligence in NC

Due Diligence Fees in North Carolina

In North Carolina, due diligence fees are an important aspect of purchasing a home. Let’s explain-

What is Due Diligence Fee?

• It’s a payment made by the buyer to the seller to secure a period for property inspection and research.

How Does it Work?

• Negotiated between buyer and seller.
• Paid upfront to the seller.
• Typically non-refundable.
• Allows the buyer to back out without losing earnest money during the due diligence period.

Why is it Important?

• Gives buyers time for thorough property evaluation.
• Compensates sellers for taking their home off the market temporarily.

Due diligence fees in North Carolina give buyers a safeguard and compensate sellers for their time. It’s a vital part of the home buying process in the state.