Earnest Money vs. Due Diligence Fee in Raleigh, NC: Two Deposits, Two Different Rules
When you make an offer on a home in North Carolina, you pay two separate deposits. The due diligence fee goes directly to the seller the day the contract is signed and is nonrefundable regardless of why you back out. Earnest money is held in a trust account by your closing attorney or brokerage, and it can be returned to you if you terminate before the due diligence deadline. Once that deadline passes, both deposits are at risk if you walk away without a contractual protection covering you.