Can I get my due diligence money back...

Can I get my due diligence money back if structural problems were found

Posted in the Summerfield Forum

Since: Feb 13

Kernersville, NC

#1 Feb 6, 2013
Hi,
I signed a contract in North Carolina to buy a house last month (Janurary end). I paid couple hundred $ Due Diligence Fee and couple thousand $ Earnest Money along with the contract. The due diligence date is at the end of this month (Feburary end).
The house was inspected by a licensed inspector and serious STRUCTURAL PROBLEMS were found. The structural problems were not disclosed by the seller in the signed "residential property and owners association disclosure statement" document.
My question is, can I legally get my due-diligence-fee back if I terminate the contract?
Any comments are appreciated!

“Making A Difference”

Since: Feb 13

Location hidden

#2 Mar 11, 2013
The articles at this web site might help answer some other DD questions,

http://www.aegisjournal.com/asset-location-an...

Also - it refund of the DD money is dependent upon the contract agreed to by the parties.

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