Due diligence fees are paid upfront, about twenty four hours after an offer is accepted. The payment keeps people from making offers and signing contracts they are not serious about. In North Carolina, due diligence periods typically last anywhere from fourteen to thirty days.
Is a due diligence fee required in NC?
In North Carolina, when you go under contract, you will encounter the due diligence fee and the earnest money deposit. The only rare time the due diligence fee will not stay with the seller is if the seller cannot hold up their end of the contract.
Does due diligence come before or after offer?
Due diligence in real estate is the period of time between an accepted offer and closing. It is during this time that the buyer and seller agree to allow the buyer to inspect the property before closing the sale.
Can you extend due diligence period in NC?
If you wish to extend your due diligence period, you may ask the seller to do so, but the seller is under no obligation to agree.
What is the timeline for due diligence?
Timeline and Costs for the Due Diligence Process
A typical due diligence process typically takes between 4 and 20 weeks, with an imperfectly positive correlation between due diligence time and transaction size. In terms of costs, the best way to reduce costs is to invest in a virtual data room.
What is due diligence period in NC?
The Due Diligence Period allows the Buyer time to conduct investigation on the home, including, but not limited to: Home Inspection. Other Home Inspections (HVAC, Plumbing, Chimney, Pool, etc.) Pest / Termite Inspection.