Due Diligence Checklist

A pre-approval means income, assets, and credit have been verified. A pre-qualification is a phone conversation — it means nothing to a motivated seller.

USDA eligibility is parcel-specific, not neighborhood-level. Run the USDA eligibility map check via your lender or the USDA portal before going under contract.

Total out-of-pocket before closing includes: DD fee (non-refundable), earnest money (refundable within DD), inspection fees ($800–$1,200 total). Have these available in a checking account.

Chowan County Register of Deeds and tax office records are publicly accessible. Verify no delinquent taxes, confirm current ownership, and check for any recorded liens or easements.

FEMA SFHA designation triggers mandatory flood insurance. Get a quote before making an offer — a $2,400/year flood insurance requirement changes your payment math significantly.

Edenton properties in the Local Historic District have COA (Certificate of Appropriateness) requirements for exterior changes. Confirm whether the property is in any overlay before planning renovations.

A property that fell out of contract twice is telling you something. Your agent can pull the full MLS history including prior listing periods.

Some NC coastal market insurers decline older homes with aged roofs or prior claims. Get a quote before going under contract — not after. An uninsurable home cannot close.

Street flooding behavior, neighbor activity, traffic patterns, and commercial adjacency look different at 7am on a Tuesday than at 2pm on a Sunday when you toured.

School assignment boundaries should be confirmed directly with the district for any specific address — do not rely on listing details.

Inspector availability in Chowan County can be limited. Book immediately — do not wait until you "feel ready." You have a deadline.

Can often be scheduled concurrently with the general inspection. Required for USDA and FHA loan approval.

Allow 5–10 business days for lab results. Coliform and nitrates are the USDA minimum; consider a full panel ($150–$250 more) if there are agricultural properties nearby.

Separate from the general inspection — schedule a licensed septic inspector. Includes dye test, pump-and-inspect, and tank/field line assessment.

Structural engineer if foundation movement noted. Licensed electrician if panel or wiring concerns exist. Mold assessor if visible mold or moisture intrusion in crawl space or attic.

USDA appraisals in rural markets can take 7–14 days to schedule after the order is placed. If your lender hasn't ordered it within 48 hours, call them.

Rate locks typically run 30, 45, or 60 days. For USDA loans, a 45–60 day lock is appropriate given the USDA Conditional Commitment step. Ask your lender what happens if the lock expires before closing.

A survey shows property lines, easements, and encroachments. Not always required by lenders, but critical on rural properties with undefined boundaries, shared driveways, or adjacent agricultural land.

Unpermitted additions (rooms, garages, decks) can create title, insurance, and financing issues. The county permit office can tell you what work was permitted. Compare to what you see in the home.

HOAs have the power to assess fees, restrict modifications, and in severe cases, place liens. Read the CC&Rs before closing — not after. The reserve study tells you whether the HOA is financially healthy.

Lenders require proof of insurance before closing. Bind (formalize) the policy rather than just getting a quote. Declaration page must show the lender as additional insured.

Repair requests must be submitted before the DD period ends to have any leverage. After the DD period expires, your only options are close or default.

The CD must be issued at least 3 business days before closing. Some fee increases are not permitted; others are. Know which is which. Ask your lender to explain every variance from the original LE.

Wire fraud targeting real estate closings is an active and growing crime. Always verify wire instructions by calling the attorney's office directly — do not send wire based on email instructions alone.

First payment is typically due 30–60 days after closing. Confirm the due date, payment address or portal, and whether the loan will be serviced in-house or transferred. Missed first payments damage credit significantly.

Verify agreed repairs are complete. Verify property condition hasn't changed. Verify personal property listed in contract is present. Document everything with photos.

Utilities do not transfer automatically. Call each utility provider and schedule the service transfer to your name effective closing date. Town of Edenton: (252) 482-2155.

In NC, you receive keys after deed recording — which can be hours after you sign. Confirm with your agent how keys transfer. Change all locks on move-in day.

If FEMA flood insurance applies, the lender will not close without proof of coverage. NFIP policies take 30 days to go into effect for new purchases — confirm timing with your insurance agent.