Hello, I am 24 and recently found my first home to purchase. I submitted an offer, and the seller requested a $2,000 due diligence fee, which I paid. During the inspection, significant mold was discovered throughout the crawlspace and ductwork. Given these findings, am I able to terminate the contract and recover my due diligence fee?
Nc house mold found during inspection
byu/Tricky-Armadillo-943 inRealEstate
Posted by Tricky-Armadillo-943
5 Comments
The real answer is “what does your contract say”. The long answer is you should be asking your agent and making sure they’re working with you to get your money back.
In NC, most like no on the DD fee, but check with your agent.
Why not ask for money to fix the problem and close? There’s many options. Your agent should know.
Mold requires an inspection and estimate to fix from a mold specialist. But before you even consider fixing the mold, you need to figure out and fix the water leak. This is a two fold problem and not one you want to be on the hook to fix. It’s also not a quick fix. Take this seriously and don’t let anyone try to convince you it’s not big deal.
The due diligence fee is non-refundable. Your agent should have told you that.