Q: What rights of return of ernest money and due diligence does a NC buyer have for extensive termite damage?
My son put $1k earnest and $2k due diligence on a newly remodeled home in Hillsborough NC that was inspected today. The inspector found significant termite damage in the crawl space and the main support beam is badly damaged. The home was advertised as a "complete remodel down to the studs." There was no disclosure of termite damage. He has already paid for the home inspector and a survey and is concerned about losing thousands of dollars if he walks away. Is it possible the seller didn't know about the damage after having remodeled the entire house? And if he didn't disclose, can my son get his $3k returned? Are there any remedies for him as buyer? Thank you.
A: Without reading the contract that was signed I couldn't give my opinion as to what he may be due back. Take the original contract to a local attorney have them give their opinion on it.
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