Updated almost 8 years ago on . Most recent reply
Wholesaling - Question about Due Diligence Fee in NC
In North Carolina, it's customary to have a "due diligence" fee when executing a purchase agreement. Where I come from in Florida, there is no such thing. This is alien language to me. The buyer had 10-14 days to inspect the property with a guarantee of 100% refund pursuant to Florida RE law.
So here is my question, for all of you wholesalers, are you entering a "0" in that space? OR.. is it not included in your purchase agreement? I can't imagine wholesalers here are putting up non-refundable money to get purchase agreements.
Would love to know the thoughts of some seasoned NC wholesalers on this. Thank you!!