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What is the Due Diligence Period?

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The first stages of buying a home include getting pre-approved, hiring a REALTOR™, and finding the perfect home. But what happens after a buyer makes an offer that’s accepted? In North Carolina, acceptance is immediately followed by a stage of investigation called the Due Diligence Period. What is the Due Diligence Period in North Carolina? As soon as a buyer …

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The Upfront Costs of Buying a Home: Don’t Be Caught Off Guard!

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When you think about the money you need to buy a home, what comes to mind first? Probably the mortgage and down payment, right? While both are crucial for buying a home, there are other costs that buyers will need to pay before signing on the dotted line. If you’re planning to buy a home, don’t be caught off guard. …

Should I Have a Home Inspection Completed Before the Appraisal?

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When your North Carolina Offer to Purchase is accepted by the seller, you immediately enter into the Due Diligence Period. This is a period of time that you, as the buyer, can investigate certain concerns about the property, have inspections completed, and finalize your financing without fear of losing your earnest money, if you choose to back out of the …

In Addition to a Mortgage, What Costs Should Be Factored Into Owning a Home?

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For some home buyers, the extra costs of owning a home can be a surprise. When calculating how much home they can afford, they focus wholly on the mortgage payment (including taxes and PMI), which is, of course, a large chunk of their monthly expenses, but there are some other expenses they may or may not be aware of. We …

My Home Didn’t Appraise. What Can I Do?

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Your Wilmington area home is under contract, but you’ve just learned that the appraisal came back lower than the contract price. Now what do you do? Well, there are a few options depending on your motivation and the appraisal price. Challenge the Appraisal. There’s a chance that there’s either an error in the listed features of your home or the …

8 Hurdles to Overcome Before Reaching the Closing Table

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The buyers have finally found THE house, the sellers have been presented with a number they are happy with, and both parties have signed on the offer contract’s dotted line, but the race to closing has only just begun. Before the title can officially pass hands, there are some hurdles that both parties need to overcome. It’s unsettling to think …