Closings

Buying or selling a home is one of the most significant milestones in life, and it can be overwhelming. But with the right team by your side, the process doesn’t have to be a hassle—in fact, it can be smooth and stress-free. At Evan Schreier, Attorney at Law, we go the extra mile for our clients, offering services you won’t find at just any firm.

Here’s how we can assist you:

• Home Purchases & Closings
• Refinancing Transactions
• Document Preparation
• Title Searches
• Survey Coordination & Review

Closing will take place at your attorney’s office. On this day, you’ll need to bring two forms of identification, along with the closing funds, which can be provided via certified check or wire transfer, depending on the amount. 

During the closing, you’ll sign several important documents, including your mortgage paperwork and the deed to the property. Once everything is signed, you’ll receive the keys to your new home. Afterward, the closing attorney will ensure that all necessary documents are updated and filed.

If you have any questions about the real estate closing process, don’t hesitate to contact us. We’re here to guide you through every step of the way.

What Homebuyers Need to Know About the Closing Process

The final step in your path to homeownership is the real estate closing process. Whether you’re a first-time buyer or managing both the sale of an existing home and the purchase of a new one, it can be a detailed and sometimes complicated journey. Purchasing a home is often the largest financial commitment you’ll ever make, so it’s crucial to understand the decisions you’ll need to make during closing.

To ensure you’re making informed choices, it’s important to have a team of professionals by your side throughout the closing process. A key member of that team is a real estate closing attorney, who will help guide you through the legal aspects of buying a home.

The Offer to Purchase and Contract

The Offer to Purchase and Contract outlines the terms and timeline for buying a home. Once the seller accepts the offer, the real estate closing process begins. Keep in mind that in North Carolina, a purchase contract must be in writing to be legally binding.

At this stage, you may also pay a due diligence fee to the seller. This fee shows the seller you’re serious about moving forward with the transaction and gives them confidence in taking the property off the market. Be aware that this fee is nonrefundable.

Inspections and Appraisals

After your contract is in place, you’ll need to schedule a home inspection and appraisal. These steps are crucial for assessing the true value of the home and identifying any repairs that might be necessary. Once repairs are identified, you’ll negotiate with the seller on what should be addressed before closing. Depending on the property, it may also be wise to conduct a survey to ensure there are no encroachments or boundary issues.

The Role of the Closing Attorney

Once the contract is accepted, it’s time to choose a real estate attorney or law firm to handle the legal aspects of your home purchase. In North Carolina, a home purchase must involve a law firm, which may not be the case in other states, so if you’re new to the area, keep that in mind.

In North Carolina, closing attorneys handle several important tasks, including:

• Title Search: Verifying that the seller can provide a clean title to the property.
• Contract Review: Ensuring the terms of the contract are fair and legally binding.
• Lien and Tax Checks: Ensuring there are no outstanding liens or unpaid property taxes.
• Title Updates: Updating title records to reflect the transaction.
• Preparation of Loan Documents: Including the Settlement Statement and other paperwork.
• Deed and Mortgage Recording: Officially recording the deed and mortgage with the county.