What happens if I accept the offer and the buyer backs out or can’t get financing—what are my options with the earnest money and contract remedies? – NC

What happens if I accept the offer and the buyer backs out or can’t get financing—what are my options with the earnest money and contract remedies? – North Carolina Short Answer Under North Carolina law, what happens with the earnest money and contract remedies depends mostly on the written purchase contract and on why and…

What documents and timeline should we expect to get the property under contract and through closing with the new buyer? – NC

What documents and timeline should we expect to get the property under contract and through closing with the new buyer? – North Carolina Short Answer In North Carolina, a typical residential sale moves from a signed offer to purchase and contract, through a due diligence period with inspections, loan and title work, and then to…

Can we move forward with the new buyer before the termination paperwork with the prior buyer is fully executed? – NC

Can we move forward with the new buyer before the termination paperwork with the prior buyer is fully executed? – North Carolina Short Answer Under North Carolina law, a seller under a signed purchase contract generally must treat that contract as binding until it is properly terminated in the manner the contract allows. Moving forward…