Select one of the frequently asked questions below to learn more about buying, selling, and renting real estate. Also, begin to think about important things to consider when diving into your real estate search.
Frequently Asked Questions
✅ General Questions
While it’s not legally required, working with a licensed North Carolina Realtor can help you navigate contracts, pricing, negotiations, and inspections. Saving you time, stress, and potentially money.
With the new NAR Commission Rules in effect, the Seller of a home or the Buyer can pay the Fees for Services. Please know, ALL fees, no matter the structure, are Negotiable.
North Carolina is a “Due Diligence” state, which means buyers have the right to request a time frame to inspect and investigate all areas of the property within the agreed upon time by both parties.
Due Diligence Money is called a “Due Diligence Fee” it is a negotiated amount, if any, paid by Buyer to Seller for Buyer’s right to terminate the Contract for any reason or no reason during the Due Diligence Period. It shall be the property of Seller upon the Effective Date of Contract and
shall be a credit to Buyer at Closing. The Due Diligence Fee shall be non-refundable except in the event of a material breach of Contract by Seller.
Earnest Money is held in escrow and may be refunded if the buyer cancels.
Both will show as credits to the Buyer at Closing. Make sure to speak with your Realtor to gain further insight and clarifications.
Most transactions close in 30–45 days after the contract is signed, but this depends on loan approval, inspections, and other factors.
🏡 For Buyers
Get pre-approved for a mortgage. It helps you understand your budget and strengthens your offer when you find the right property.
Yes! North Carolina offers USDA loans for qualifying rural areas and VA loans for veterans, both of which offer 0% down options. There are also down payment assistance programs available.
Home inspections are not legally required but are highly recommended. Most buyers also do pest, radon, septic, and well inspections when applicable.
Property taxes vary by county. Rates are based on the assessed value of your home and are paid yearly. You can check specific rates with the local tax assessor’s office.
Yes. In North Carolina, a real estate attorney is required to conduct the closing, perform title searches, and handle final paperwork.
🏠 For Sellers
A Realtor can provide a Comparative Market Analysis (CMA) based on similar recent sales in your area to estimate your home’s market value.
This depends on your price point, condition, and market demand. In a hot market, homes can sell in days. On average, homes in NC sell within 30–60 days.
Clean thoroughly, declutter, stage furniture if possible, and take care of minor repairs. Curb appeal is key, first impressions matter!
Yes. North Carolina law requires sellers to complete a Residential Property Disclosure Statement, disclosing known material defects.
It’s best not to be. Buyers feel more comfortable exploring and asking questions when the seller isn’t home.
📋 Contracts, Offers & Legal Questions
The seller can accept, reject, or counter. Once both parties sign, the contract is binding, and the due diligence period begins.
Yes, but depending on timing, you may forfeit your due diligence and/or earnest money. Consult your Realtor and attorney before making that decision.
You can renegotiate the price, cover the difference, or back out of the deal during due diligence (as a buyer). Your agent will guide you through options.
You’ll sign legal documents, transfer funds, and get the keys (or release them, if selling). In NC, closings are typically conducted by a licensed attorney.
After closing and once the deed is recorded, usually within 24–48 hours, you’ll receive the proceeds from the sale via wire transfer or check. Check with your Attorney to find out how they handle your payment.
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