NC Home Buyer Can't Sell Existing Home

What are buyer rights under form 2-T if they can’t sell their existing property

If the buyer indicates in paragraph 5 of for 2-T that they need to sell their property first - - and then they can’t, can they terminate the offer and get their earnest money deposit back?

The answer: no - they cannot. It is spelled out later on in paragraph 5b, and also in paragraph 4c).

Paragraph 5 does not create a contingency for the buyer to get their deposit back.

It’s there primarily to enable the seller to better assess the strength of the buyer’s offer. It adds some transparency to the offer.

To avoid losing their earnest money deposit, the buyer should try to sell their home before the end of the due diligence period, or at least be reasonably sure they can sell their existing home before the settlement date.