A buyer and a seller have both signed the NCAR/NCBA Offer to Purchase and Contract...

Vendor: Real Estate
Product: NCREC-Broker-N
Update on: Jan 7, 2026
Questions: 125

Real Estate NCREC-Broker-N Question Answer

A buyer and a seller have both signed the NCAR/NCBA Offer to Purchase and Contract (Standard Form 2-T), creating a binding sales agreement. The buyer's loan is denied during the due diligence period, and they provide the proper notice to terminate the transaction. In this scenario, the buyer can receive:

a refund of the due diligence fee only.

a refund of the earnest money deposit only.

a refund of both the due diligence fee and the earnest money deposit.

no refund because the buyer terminated a valid contract.