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North Carolina uses a due diligence system, which is different from many states. Buyers typically pay a due diligence fee up front that gives them a defined period of time to fully investigate the home, secure financing, and decide whether to move forward. Understanding how this works is critical, especially for buyers relocating from out of state.

The due diligence period is the time between going under contract and closing when buyers complete inspections, appraisal, financing, and title work. During this period, buyers can walk away for any reason, but the due diligence fee is generally non-refundable. This is why having a clear strategy before making an offer is so important.

Only if you close on the home or if the breaches contract. Otherwise, if a buyer decides not to move forward during the due diligence period, the due diligence fee is typically forfeited to the seller. However, the earnest money deposit may still be refundable depending on timing and contract terms. this item.

Buyers typically pay the due diligence fee and earnest money shortly after going under contract. Inspection costs and appraisal fees also occur before closing. The exact amount depends on the home, loan type, and negotiated terms.