The process starts with getting pre-approved for a mortgage, followed by house hunting with your agent. Once you find a home, you make an offer, including due diligence and earnest money. If accepted, you enter a due diligence period to complete inspections, finalize financing, and appraisals. If all goes well, you close the transaction—usually in 30–45 days.

Are you ready to buy a home? For more tips and information, please refer to the Blondell_Properties_Buyer_Checklist.pdf.

The Triangle remains one of the fastest-growing regions in the U.S., with strong demand and limited inventory keeping prices stable or rising. Contact us for the latest stats or a market report tailored to your neighborhood.

In North Carolina, buyers typically pay 2–5% of the purchase price in closing costs. This includes lender fees, title insurance, attorney fees, due diligence and earnest money, and prepaid taxes or insurance.

Programs like the NC Home Advantage Mortgage offer down payment help and reduced rates for first-time and qualified buyers. Some local governments offer tax credits or grants as well.

A fixed-rate mortgage keeps the same interest rate for the life of the loan—ideal for long-term stability. An ARM may start lower but can adjust upward later, which may be better if you plan to move or refinance within a few years.

What Is Due Diligence Money?

• Due diligence money is a negotiated amount paid by the buyer to the seller at the beginning of the transaction.
• It compensates the seller for taking the home off the market while the buyer conducts inspections, appraisals, secures financing, and performs other checks (i.e., "due diligence").
• It is non-refundable.

Due Diligence Period

• This is a set time (also negotiated in the contract) during which the buyer can walk away for any reason or no reason at all.
• If the buyer backs out during this period, they lose the due diligence money.

What Happens to the Money?

• If the buyer goes through with the purchase, the due diligence money is credited toward the purchase price at closing.
• If the buyer backs out after the due diligence period ends, they usually lose both the due diligence and earnest money deposits.

Example:

• You offer $300,000 for a home.
• You pay $2,000 in due diligence money and $5,000 in earnest money.
• You cancel during the due diligence period → you lose $2,000 (due diligence), but typically you get $5,000 (earnest money) returned.

Common Contingencies in North Carolina

• In many states, offers include separate contingencies for financing, appraisal, and inspections. However, North Carolina uses a “due diligence period” instead, which effectively replaces many of those traditional contingencies.
• During the due diligence period, the buyer has the right to investigate the property—this includes inspections, loan approval, appraisal, and more. The buyer can terminate the contract for any reason or no reason at all during this time and retain their earnest money deposit (though the due diligence fee is non-refundable).

Important Reminder:

• If the buyer chooses to back out after the due diligence period ends, they typically forfeit both the due diligence fee and the earnest money deposit.
• See the section above for more details on how deposits work and what protections are in place for buyers during the transaction.

Wire fraud involves hackers intercepting emails with fake wiring instructions. Always verify wiring info by phone with your attorney or closing agent. Never trust emailed instructions alone.

Please see the Protecting Your Transaction section for safegaurding your investment.

You're required to provide the Residential Property and Owners’ Association Disclosure and Mineral and Oil/Gas Rights Disclosure, unless you’re exempt (e.g., estate sales). Honest disclosures protect both parties.

This agreement establishes your agent’s duty to represent your best interests, including negotiating price, inspections, and repairs. It also outlines how your agent is compensated.

Who Pays the Buyer’s Agent?

• Buyer agent compensation has always been negotiable and is not required by law. Traditionally, sellers often chose to offer compensation to the buyer’s agent as part of the transaction, and these offers were typically shared through the MLS to encourage cooperation between brokers.
• However, beginning August 17, 2024, as part of a national legal settlement, MLSs can no longer display offers of compensation, and sellers are no longer expected or required to pay a buyer’s agent. This means that compensation must now be addressed directly between the buyer and their agent.

How Buyer Agent Compensation Works in North Carolina

• Before viewing homes, North Carolina law requires buyers to sign a written buyer agency agreement. This agreement outlines the nature of the working relationship and how the buyer’s agent will be compensated.
• "Firm may seek compensation from the seller or listing firm to pay some or all of the fee due in this Agreement. However, Buyer understands that neither a seller nor a listing firm has a duty to pay Firm's fee."* (*As taken from Exclusive Buyer Agency Agreement 201 - NCR)

Bottom Line

• Buyer agent compensation is no longer advertised in MLS.
• Buyers and agents must have a written agreement before showings begin that outlines compensation.
• All discussions about compensation must remain compliant with state laws, ethical standards, and the terms of the buyer’s agreement.

Is Dual Agency Legal?

• Yes, dual agency is legal in North Carolina—as long as it is fully disclosed and all parties provide written consent.

What is Dual Agency?

• "Dual agency occurs when a real estate firm represents both the buyer and the seller in a transaction. Designated dual agency is a specific type of dual agency where a firm will appoint one agent to represent only the interests of the seller and a different agent to represent only the interests of the buyer. Designated dual agency permits a firm to fully advise and advocate for both a buyer and a seller as if the appointed agents were not both affiliated with the same firm. Not every real estate firm offers dual agency or designated dual agency. Authorizations available below may vary."* (*As taken from Exclusive Buyer Agency Agreement 201 - NCR)

Spring and early summer (March–June) typically bring the most buyer activity and higher prices. However, with low inventory, homes can sell well year-round.

We perform a comparative market analysis (CMA) to price your home based on recent local sales, market trends, and property features. The right price attracts the best offers quickly.

Clean thoroughly, declutter, neutralize paint colors, complete minor repairs, and boost curb appeal. Staging and professional photography also help your home stand out.

Ready to sell your home? Refer to the Blondell_Properties_Home_Selling_Guide.pdf for expert guidance and contact us for assistance.

Homes in the Triangle often sell in 21–40 days, depending on location, price point, and market conditions. A well-priced, well-presented home moves quickly.