Buyer Under Contract Information

    IMPORTANT: Below is a summary of vital information that is key to a successful and smooth transaction as we work from contract to close on your new home. There are many things we have to accomplish in a timely fashion to avoid delays, please read through the information below and let us know if you have questions.

    PLEASE MAKE ARRANGEMENTS to drop off your Earnest Money and Due Diligence checks if you have not already done so to:

    110 Dungannon Blvd,  Suite #100, Wilmington, NC 28403

    Please drop this off as soon as possible. We are open Monday-Saturday 9-5. Whoever is at the front desk will take this for you, please just make sure you tell them you’re dropping off for The Chris Luther Team and put the address of the home you are purchasing in the memo line.

    We will be sending you some paperwork via Dotloop where you can sign electronically. If you have any questions about the Dotloop program please let me know, we can send you more information on how to utilize it. Today we will be sending you over 5 documents to sign. Dotloop will walk you thru the exact places where your signature and initials are required.

    Key Title 1– Coldwell Banker Sea Coast Advantage has an ownership interest in Key Title. This disclosure is notifying you of this.

    Key Title 2– This for is asking you if you would like to use Key Title. I have yes marked, but if you do not want to use them please let me know and I will change. Note: Title insurance in NC is a set price and is not a service that needs to be shopped for. The only exception is if the home you are buying already has a policy that offers a “re-issue rate.” The closing attorney will check to see if a re-issue rate is available and if so will use that title company for the available discount.

    Home Warranty Acceptance or Decline

    Wire Fraud Prevention Notification Addendum- Wire Fraud is becoming more prevalent, and this disclosure explains ways to help prevent it from occurring.

    Professional Services Disclosure- PLEASE READ CAREFULLY

    This is a list of services that are typically performed in connection with a Real Estate transaction. You will either be selecting, or waiving each service. You will indicate if you are waiving or selecting by initialing the appropriate column. We have a list of vendors that we typically work with that I have pre-selected for you, however if you have someone else in mind that you would like to use, please let me know and I will make that change.

    • Accountant/CPA/Tax Advisor– Optional, please select or waive
    • Appraisal– Required and ordered by the bank
    • Attorney/Title Exam/ Closing– Required
    • NFIP Elevation Certificate– Only applicable if the dwelling is in a flood zone
    • Home Inspections– Not required but HIGHLY recommended. See more on this below
    • Home Warranty– Optional (If seller paid at closing we recommend 2-10 Home Warranty)
    • HVAC Inspection– Optional. Home inspector does a limited inspection.
    • Mortgage Loan
    • Property Insurance – Recommending Noelle Agnew with Don Bullard Insurance. I will send you an intro email to her, and she will send you a quote. Feel free to price shop, and let your loan officer know your final decision.
    • Radon Inspection– Optional, please let me know if you’d like me to set this up. You can read more information about Radon in our area
    • Septic Inspection– Not applicable if you are on city/municipal sewer. If the property has a septic system and you have an FHA/VA Loan, a septic inspection will likely be required by the lender.
    • Survey– Optional, please let me know if you would like me to set this up.
    • Title Insurance– Required by bank, I have you purchasing through Key Title, please let me know if you’d like to use someone else.
    • Well/Water– Not applicable if you are on city/municipal water. If the property has a well system and you have an FHA/VA Loan, a well inspection will be required.
    • Wood Infestation (WDIR)– Required if using a home loan to purchase for title insurance purposes. We use Port City for this service, the cost is $75. Note: if you have a VA loan, the seller is required to pay for this service.


    During your Due Diligence period you have the right to cancel the contract for any or no reason and not forfeit your Earnest Money. During the due diligence period, it is highly recommended that you inspect the property with licensed professionals.

    You do not have to worry about setting up any inspections, I will do that on your behalf and handle the communication. You are however certainly welcome to attend any and all inspections performed on the property. When applicable we will have inspection invoices be paid at closing. Be advised that you are responsible to pay for any inspection or appraisal services that are performed even in the event you terminate the contract for any reason.

    Home Inspection– As soon as you approve via the Professional Services Disclosure above, we will work on scheduling this. It is not required that you attend, but if you would like to please let your agent know and we will put you in touch with the inspector to make special arrangements. After the inspection is performed, you will receive a report from the inspector. Your agent will then discuss the report with you, and determine a list of repairs, if any, to request from the seller. The seller might agree to all requests, counter, or reject. This is a negotiation process which your agent will work through with the seller’s agent on your behalf.

    Termite Inspection– Highly recommend and also required if you are purchasing with a loan. This is performed during the Due Diligence period in case evidence of termites or other “Wood Destroying Insects” are found. We will receive a report saying no evidence is found, previous evidence has been found but treatment has been performed, or that the home needs treatment. If treatment is needed your agent will discuss your options with you.

    Any Other Inspections– Should you choose to have a Radon Inspection, Survey, Well/Water or Septic Inspection, we will set these up on your behalf as well, and once the reports come back your agent will discuss the results with you.

    If you have any questions, please let us know.