BIC TIP #1313: No More Due Diligence Period Status in Triad MLS

Heads up, Triad MLS members. Stephen Long, your Notorious BIC, has a change coming to your system: the Due Diligence Period status is going away. Before anybody panics, this is an MLS status change only. It does not change due diligence in the contract one bit.

What Is Changing

When a listing goes under contract in Triad MLS, you will no longer mark it as being in a due diligence period. Instead, you will have two status choices: Pending or Pending, Accepting Backups.

In Stephen’s words, the due diligence period status will perish from the planet. Your listing workflow just gets one fewer option.

What Is Not Changing

This change is about how listings are labeled in the MLS, not about how North Carolina contracts work. The Offer to Purchase and Contract still has a due diligence period, buyers still have the same rights during it, and everything in North Carolina operates as normal.

So your buyers are not losing anything. Your sellers are not gaining anything. The contract is the contract.

Pick the Right Status

Think about your seller’s goals when choosing between Pending and Pending, Accepting Backups. If your seller wants to keep collecting interest in case the current contract falls apart, the accepting backups status lets other brokers know the door is still open.

Talk to your seller about which status fits their situation, and make sure your choice reflects what they actually want.

The Practical Takeaway

If you are a Triad MLS member, watch for this change and do not be surprised when the due diligence period status disappears. Use Pending or Pending, Accepting Backups going forward, and keep handling contract due diligence exactly as you always have. Not in Triad MLS? Carry on, and check your own MLS rules for any changes.