The biggest change facing Buyers, Sellers, and REALTORS® in North Carolina is the form’s introduction of the Buyer’s “Due Diligence” process. During a negotiated due diligence period, the Buyer must complete all of the inspections, surveys, and appraisals typically performed by a diligent Buyer. In addition, the Buyer needs to be satisfied with the documents governing the home, the availability and affordability of insurance for the home, and their own ability to be approved for a mortgage. Should the Buyer not be happy with the investigations…or if they simply change their mind about completing the purchase…the Buyer will be able to unilaterally terminate the contract and be entitled to a return of their earnest money deposit, assuming notice of termination is delivered to the Seller prior to the expiration of the due diligence period. After that expiration date, the Buyer loses their ability to terminate the contract and receive a refund of the earnest money deposit (except in the case of a Seller’s breach) and the power of the contract shifts to the Seller.
The new Offer to Purchase and Contract allows for a negotiated, non-refundable fee to be paid by the Buyer directly to the Seller in exchange for the amount of time associated with the due diligence period. While the “due diligence fee” is not a requirement of the Offer to Purchase and Contract, it will serve as further evidence of the Buyer’s sincerity in pursuing the property. The “due diligence fee” is not refundable to the Buyer except in the case of the Seller’s breach. The fee will serve as a credit to the Buyer should they complete the purchase.
Please click on the link below to see the changes to the 2011 offer to purchase and contract.
OTPC – New vs Old
Royden is 10 miles south of Downtown Charlotte and gives homeowners the feeling of solace in this stunning neighborhood.
The homes in Royden were built-in the late eighties early nineties and offer large lot sizes for those who want a great yard. You can have a ton of space and still enjoy the amenities of urban living. Houses average between 1400 square feet and up to 5000 square feet.
Shopping is just around the corner with a Harris Teeter. Southpark Mall is close by and perfect for shopping and entertaining guests.
Check out this fabulous lot with mountain views right off of Sharon Road. Build your dream home minutes from downtown and Southpark. 2820 Briarcliff Place is a hidden gem in Myers Park that not many people think to drive down. See this amazing lot on my website and on YouTube. SHOW, SHOW, SHOW this awesome opportunity to your family coming into town for the holidays.
Beautiful Updated Ranch Style Home in Madison Park. New Roof, New Refinished Hardwood floors, All New Kitchen Cabinets, Counter tops, Sink & Appliances. New tile floor in kitchen and sunroom. Bathrooms Updated. Fenced yard, New Concrete Driveway and Sidewalk, New Gutters. Freshly Painted Interior of the home. Excellent School District. Check out this home below on my website.
Developed in the early 1920s as a streetcar suburb, “Chatham Estates,” Plaza Midwood’s development coincided with that of Myers Park neighborhood. Two prominant local families provided the impetus for the initial development of the neighborhood: the Van Landinghams (2010 The Plaza) and the Victors (1800 The Plaza). Plaza Midwood’s trolley line ran along Central Avenue to The Plaza and down Mecklenburg Avenue to the Mecklenburg Country Club (now the Charlotte Country Club). The Oakland Land Company laid out much of the street design.
During the Depression, Plaza Midwood underwent many phases, resulting in a diverse architectural heritage. The urban flight of the 1950s and 1960s left parts of the neighborhood on the brink of decline. By the mid-1970s Plaza Midwood residents began to group together to preserve their neighborhood, and in August 1975, the Plaza Midwood Neighborhood Association (PMNA) was organized.
Check out this spectacular 4,072 square ft home in Mammoth Oaks. At $434,000 this is one heck of a deal. WOW. New Construction in SouthPark on large, private home site. Both formals, large great room, and guest suite/in-law suite with full bath downstairs. Hardwoods, Granite Tops, Large Pantry. Large Master with HUGE walk-in closet, separate tub/shower.Bonus Room is 18′ x 24′. WOW. Has huge walk-in closet also perfect for storage. 3rd floor bonus. Model available to see at other location. Great opportunity just 8 minutes from downtown Charlotte, and 5 minutes to Southpark. Please call me for details and check out the photos of the home under construction.
In Depth: Anne Marie Howard, Charlotte Regional Realtor Association
Charlotte real estate sales went down 23 percent from October 2009 to October 2010. News 14 Carolina’s Rob Boisvert sits down with Anne Marie Howard from the Charlotte Regional Realtor Association to talk about how it’s not all bad news for Charlotte’s home sales and the impact of CMS school closings.