What is Due Diligence?

What is Due Diligence?

Due diligence is a period of time after signing a purchase and sell contract to buy a property in which the buyer of a property conducts inspections, appraisals, surveys, etc at the buyer’s own expense. Buyers should make thorough inquiries into whether the property...
What is Litigation?

What is Litigation?

Litigation is the process of taking legal action against one or more parties in a court of law. Generally, parties find themselves in litigation as a result of failed negotiations or mediation after a dispute has arisen. The process begins when a party (the Plaintiff)...
What is an eClosing?

What is an eClosing?

An eClosing is the electronic signing of some or all mortgage loan closing documents in a secure digital environment, as opposed to the traditional pen and paper signing. North Carolina’s first eClosing occurred in May 2017. An eClosing offers a potentially more...
What is Summary Judgment?

What is Summary Judgment?

Summary Judgment is a mechanism by which parties can resolve some or all of the pending claims in a civil action. Summary Judgment is governed by Rule 56 of the North Carolina Rules of Civil Procedure. A motion for summary judgment shall be rendered if the record...
What can Sellers do about a Low Appraisal?

What can Sellers do about a Low Appraisal?

Sellers can order a second appraisal, offer a list of comparable properties that have recently sold, or lower the contract price after receipt of a low appraisal. When an appraisal comes in low, tensions can get high. There are many potential reasons for a low...