Homebuyer Fairness and Protection Act.

SB 453 limits nonrefundable "due diligence" fees in home sales to 1% of the purchase price, preventing sellers from requiring higher amounts as a condition of accepting offers. Any contract clause exceeding this amount is void, and sellers who enforce it may face legal costs and attorney fees. The bill also allocates $10 million to the North Carolina Housing Coalition to fund homebuyer education programs statewide. These provisions directly affect homebuyers and sellers in residential transactions, aiming to reduce upfront financial barriers and improve buyer preparedness. The law takes effect for new offers on or after October 1, 2025, with the funding provision beginning July 1, 2025.