North Carolina Due Diligence Period

[Account Closed]

Hey All, After listening to just about all of the podcasts I've finally joined the site and happy to be here! 

I have recently moved to Charlotte, NC and have found out about their due diligence period which requires I put money down that I will not get back if I back out. I am curious about a few things which are listed below:

1. Can I change the agreed upon purchase price of the home during the due diligence period?

2. If the seller didn't disclose a key issue with their home on the seller disclosure form and knew about it can I get my due diligence back? The reason I know they knew about it was because they mentioned it in passing but didn't bring it up as a real concern and since it wasn't on the disclosure form I assumed it wasn't a major issue. 

[Adam Schneider]

@Account Closed. NC rules are clear. During the Due Diligence period, the buyer can terminate for any reason or no reason at all. Naturally, you can also ask to renegotiate. Your risk is losing your DD deposit. Once you are past the DD period, then you also lose the Earnest Money deposit. Regarding the seller disclosure, the RPD (residential property disclosure) allows the seller to provide yes, no, or No Representation responses. Then, you jump into the topic of material issues....and that's where you'll want to discuss with your agent to understand how that works.