What You Need to Know About Due Diligence in North Carolina Real Estate
If you're planning to buy a home in the Triad area of North Carolina—whether in High Point, Greensboro, Kernersville, Jamestown, or beyond—understanding due diligence is critical. This step in the home buying process gives you the opportunity to investigate the home and decide whether it’s truly the right fit before you close the deal.
What Is Due Diligence in North Carolina Real Estate?
The due diligence period is a negotiated window of time (typically a few weeks) during which the buyer can inspect the home, review documents, and address concerns before deciding to move forward, renegotiate terms, or walk away. North Carolina’s due diligence process places the responsibility on the buyer to uncover potential issues, so being thorough is key.
Must-Have Home Inspections for NC Buyers
Here are some essential inspections every buyer should consider:
- Home Inspection: This is your first line of defense against hidden issues. Even new or renovated homes should be inspected.
- Termite Inspection: Wood-destroying insects like termites or carpenter ants can cause serious damage over time.
- Survey: Confirms property boundaries, easements, and encroachments.
- Appraisal: Required by lenders to verify the home's value. Even cash buyers should consider one.
- Well and Septic Inspection: If not on public utilities, test water quality and system capacity.
- Radon Testing: Radon is a carcinogenic gas found throughout North Carolina and should not be ignored.
- HVAC Inspection: Ensures heating and cooling systems are working properly.
- Structural & Moisture Inspection: Recommended if the home inspector finds foundation issues or signs of mold.
What Happens After Inspections?
If an issue is found, your real estate agent will help you request repairs in writing. Be specific about how repairs should be completed and whether licensed professionals are required. You may also want to schedule a re-inspection to confirm the work was done correctly—especially before your final walk-through, which is your last chance to verify the property’s condition before closing.
Don’t Forget These Due Diligence Items
- Flood Zone Check: Use FEMA’s maps to see if the home requires flood insurance.
- HOA Rules & Covenants: Review bylaws for restrictions on rentals, home businesses, pets, or even paint colors.
- Disclosure Forms: Carefully read the Residential Property Disclosure and Oil, Gas, and Mineral Rights Disclosure.
- Noise, Odor, or Traffic Concerns: Check out the neighborhood at different times of day and talk to neighbors.
- Private Roads: If the property is on a private road, make sure there’s a maintenance agreement in place.
Special Considerations for Land and Older Homes
If you're buying land, confirm water/sewer access and order a soil test (perc test) if needed. For older homes, look out for asbestos, lead-based paint, or underground fuel tanks.
Final Thoughts
The due diligence process is one of the smartest steps a home buyer in North Carolina can take. It helps protect your investment, avoid costly surprises, and make informed decisions with confidence. Remember: in NC, “closing equals acceptance”—once you close, you own the home as-is, so don’t skip this crucial period.
Need help navigating the due diligence process in the Triad? I’m here to guide you every step of the way—contact me today to get started on your journey to homeownership with peace of mind.