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Old 02-06-2013, 06:31 PM
 
3 posts, read 3,878 times
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Can I get my due diligence money back if structural problems were found which were not disclosed by seller in the property disclosure?

Last edited by goldenstone; 02-06-2013 at 07:24 PM..
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Old 02-06-2013, 07:50 PM
 
Location: Charlotte
302 posts, read 538,721 times
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Based on what I just went thru buying a condo during the summer, I would say, yes.
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Old 02-07-2013, 09:32 AM
 
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Thanks WSNC62's comment. If the seller rejected to refund the money, what can I do?

Last edited by goldenstone; 02-07-2013 at 09:44 AM..
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Old 02-07-2013, 11:22 AM
 
Location: Charlotte
302 posts, read 538,721 times
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If you are not dealing with a realtor, ask the seller up front. Don't assume anything will happen.
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Old 02-07-2013, 01:10 PM
 
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Both I and the seller have a respective realtor. Is it legal for the seller to get the house back to the market if the termination agreement not reached yet with both sides?

Last edited by goldenstone; 02-07-2013 at 01:19 PM..
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Old 02-07-2013, 01:31 PM
 
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Until the house closes, I believe the selling agent can continue to advertise and show the house just in case the deal falls through. That said, I'm pretty sure that they have to disclose that the house is in due diligence (or whatever terminology applies).
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Old 02-08-2013, 12:30 PM
 
Location: Greensboro, NC
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We were in a due diligence situation with a house and paid our good faith money down. During the process, we found another house we liked better, so we pulled out of this house. However, since we had already had an inspection done on that house (which of course usually comes out in your closing costs) then there was going to be the issue with the cost of the inspection. So, we just allowed the owners to use the good faith money toward covering the costs of the inspection.
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