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Frank L CoxxHomeSmart

How I work

I tell you when to walk

I get paid when you buy. That’s exactly why you should be suspicious of an agent who never says no.

Some houses aren’t worth it. Some months aren’t the right month. My job is to tell you which is which, even when it costs me the deal. I’m Frank Coxx, a North Carolina broker with HomeSmart since 2005.

When I’ll tell you to walk away

  • The price is ahead of the house

    If recent sales nearby don’t support the number, the appraisal usually won’t either. Paying over value isn’t always wrong. Doing it without knowing is.

  • The inspection found a real problem

    Every house has a list. Most of it is normal wear. Water getting in, a failing roof, structural movement or a major system at the end of its life is different. That’s a reason to renegotiate or leave.

  • The VA appraisal flagged something the seller won’t fix

    If the house has to meet VA property requirements and the seller refuses the repairs, the loan can’t close as written. Sometimes there’s a workaround. Sometimes the honest answer is to move on.

  • The builder’s contract leaves you exposed

    Deposits that are hard to get back, open-ended delays, substitutions the builder can make without asking you. If the paperwork protects only one side, I’ll say so before you sign it.

  • The payment fits on paper, not in your life

    A lender approves a maximum. That isn’t the same as what you can live with every month. If the house only works on a perfect month, it doesn’t work.

  • It’s the right house at the wrong time

    Orders that might change. A job that isn’t settled yet. A move you’re not sure about. Waiting a season can cost far less than buying in a hurry.

How walking away works in North Carolina

In North Carolina, the time to walk is the due diligence period. During that window you can end the contract for any reason.

Your earnest money comes back to you. The due diligence fee generally stays with the seller. After the due diligence date, walking away usually costs you the earnest money too.

So we use that window. Inspection, appraisal, insurance quotes, a second look at the numbers. If something is wrong, you find out while leaving is still cheap. The due diligence guide covers the details.

Walking away from one house isn’t walking away from buying. It’s how you end up in the right one.

FAQ

Questions about walking away

Can I back out of buying a house in North Carolina?

Yes, during the due diligence period you can end the contract for any reason. Under the standard North Carolina offer to purchase, your earnest money comes back to you if you terminate before the due diligence date. The due diligence fee generally stays with the seller. After that date, walking away usually costs you the earnest money too, so the decision belongs inside the window.

What if a VA appraisal comes in under the contract price?

The VA amendatory clause lets you walk away without losing your earnest money if the appraised value comes in below the price you agreed to. You can also renegotiate, ask for a reconsideration of value, or cover the gap yourself. Which one makes sense depends on the house and the numbers, and I will tell you which one I would pick.

Will you still get paid if I walk away from a house?

No, I get paid when you close on a home, not when you go under contract. That is exactly why it matters that I am the one telling you to walk. Losing a deal costs me. Buying the wrong house costs you a lot more, and for a lot longer.

Not sure about a house?

Tell me the address and what’s bothering you. I’ll give you a straight answer, even if it’s not the one you want.

What best describes you?

Or call/text 980-307-5558

Your information goes to me and stays with me. I don’t sell leads and I don’t add you to a mailing list.

Get a second opinion before the deadline

If you’re under contract and the due diligence date is coming, call now. A short conversation is cheaper than the wrong house.

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