Because here’s the thing:
In North Carolina, Due Diligence is non-refundable. It’s basically a “we’re serious” deposit to take the home off the market while you inspect, appraise, and second-guess everything.
Withing real estate transactions when writing an offer to purchase, there are 2 options for putting money 'down' while inspections completed and/or getting loan approval. One is called due diligence and one is called earnest money deposit. One is refundable to the buyer (earnest money) and one isn't ( due diligence). These are negotiable with the seller. It is common practice for buyers now to pay up front due diligence funds but they are no mandatory. However, you will find that most sellers require some due diligence money depending on how long they are being asked to essentially take the property off the market while you do your 'due diligence'. I hope this video helps and if you need assistance with this, as always, I am open to no obligation questions.
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