ACCEPTING AN OFFER

The Price Is Not Always Right

The highest offer isn't always the best one. Initial offers are rarely final, and a variety of terms and conditions can influence the ultimate outcome. Our team will help you evaluate each proposal carefully to accept the best offer, from the right buyer.

Negotiating to Win

We take the responsibility of fair, ethical negotiation seriously. Our priority is putting your interests first as we evaluate each offer, helping you make the right decision while keeping the buyer engaged in the process.

The Initial Agreement and Deposit

Once you and the buyer reach an agreement, both parties will sign the initial contract, or Offer to Purchase and Contract, and the buyer will typically submit two separate payments: due diligence money paid directly to the seller, and earnest money deposited into escrow. The escrow, or closing agent, is a neutral third party, either a title company or an attorney, responsible for holding, receiving, and distributing all funds related to the sale until closing.

In North Carolina, due diligence money is a negotiated, non-refundable fee paid directly to the seller that compensates them for taking the property off the market during the due diligence period, during which the buyer can perform inspections, appraisals, and other investigations, and can withdraw from the contract for any reason without penalty. Earnest money, by contrast, is held in escrow and is generally refundable to the buyer if they terminate during the due diligence period, but may be forfeited to the seller if the buyer withdraws afterward without a valid contingency.

Requirements can vary by transaction, but a legally binding agreement in North Carolina typically specifies the due diligence deadline, the amount of due diligence and earnest money, and the conditions under which each deposit is refundable or forfeited.

A few tips to help streamline the process further:

• Keep written records of everything. Counter-offers, verbal agreements, and addendums should always be documented and signed by both parties. We'll help draft these records and provide copies for everyone involved.
• Stay on schedule. You and the buyer will follow a timeline to complete all terms of the Purchase Agreement. Staying on track keeps the process smooth and ensures neither party falls into breach of contract. We'll keep you informed and prepared at every stage.