"Under the new contract effective January 1, 2011, the buyer and the seller negotiate the length of time that the buyer will have to investigate the property and decide whether to go ahead with the purchase. During this period, the buyer can terminate the contract for any reason or for no reason with out fear of being fined or sued. The average due diligence period is about four weeks with cash only deals typically shorter. By the end of the due-diligence period, the buyers must have done everything; been approved for a loan, obtained an appraisal and performed all inspections and surveys they deem necessary. If something appears on any of the inspections that the buyer wants the seller to fix all negotiations must be completed before the end of the due-diligence period. The new contract provides the buyer with more power in negotiating any repair that must be made by the seller. A complication can arise when the seller is trying to purchase another home, the due-diligence for both transactions will need to be coordinated and both deals will fall through if the initial buyer walks!"
- The News & Observer 2011