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Ng the Offer to Purchase and Contract Vacant Lot/Land form on behalf of Buyers and Sellers. The Offer to Purchase and Contract is the most important document in any real estate sale and it is imperative that it accurately reflects the entire agreement of Buyer and Seller. An improper contract may have substantial adverse effects on the rights and interests of the parties. These guidelines include general comments about contract completion as well as suggestions and explanations regarding selec.

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The North Carolina Offer to Purchase and Contract is also often called a due diligence contract. We have a due diligence period, and within this time frame, a buyer can terminate a contract for any reason. It doesn't have to be because of a bad inspection, loan, or other obvious problems.

While neither due diligence money nor earnest money is mandatory in North Carolina, most contracts negotiate to include both. Due diligence money is non-refundable, whereas earnest money is refundable if the buyer decides not to buy the home within the due diligence period.

The due diligence fee is a negotiable (by your realtor) and is typically between $500 and $2000, depending on the market competition and on the purchase price of the home.

Q: What happens at the end of the “Due Diligence” period? A: The buyer must make a decision to move forward with the contract or to terminate, so it's a good idea to discuss progress with the buyer as the end of the period approaches.

Before the seller of a home officially takes it off the market, they will receive a certain amount of money, upfront from the buyer. If the buyer follows through with the home purchase through closing, the seller will then credit the buyer the due diligence money at closing time.

Once the due diligence period ends, the buyer cannot back out of the contract (except under a different, applicable contingency – financing or appraisal, for instance). If they back out prior to closing and no other contingency gets them out of the contract, they lose their earnest money.

In North Carolina, due diligence periods typically last anywhere from fourteen to thirty days. During the due diligence period, the buyer gets time to negotiate repairs, home owner association agreements, and review home inspection reports without the pressure of other buyers.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232