Buyer Questions

Conducting a real estate closing is the practice of law, which only an attorney can do. The actual closing — where the documents are signed — represents only about one-fifth of the services we provide for your real estate transaction. North Carolina, where lawyers conduct the title examination and closing, has one of the lowest closing costs in the nation.

Please complete the information sheet provided to you, and let us know as soon as possible whether you want to order a survey. While we do not order surveys for our clients, we can assist you in locating a surveyor in the area where your property is located.

Years ago, lenders required a survey for almost every closing. Now, the choice is usually yours. You cannot go wrong by getting one — you will know the shape and size of the property, and whether there are any encroachments (for example, the neighbor's fence sitting on your land).

Another option is to ask whether the seller has a copy of a previous survey. Most clients feel they can look at the property and tell if any improvements have been made since. Although a survey isn't usually required, our recommendation is to obtain a current one whenever possible. We do not order surveys, but we are happy to help you locate a surveyor.

The decision is yours, but it is highly recommended. A licensed home inspector can find problems that have a serious impact on value — and not all of them are visible during a walkthrough. A thorough inspection could reveal defects that lead you back to negotiations, or away from the property altogether.

After closing, the general policy is "buyer beware," so it's better to spend a small fee to learn what hidden problems your prospective purchase could reveal from the beginning.

A closing usually lasts from 45 minutes to an hour.

Usually all you need is your driver's license and certified funds — an official bank check, certified check, cashier's check, or money order made payable to our trust account for the balance you will need to close.

We will notify you before closing if your lender is requesting anything else. We usually do not know what additional items your lender will require until the package arrives. Please also bring two unexpired forms of ID, one of which must be a government-issued photo ID.

In order to give you your final figure, we need to receive the closing package from your lender. Typically, we do not receive the package until the day before closing. Sometimes we do not receive it until the day of closing.

Although our policy is to require closing packages at least one day in advance, in some cases we may not be able to give you your final figure until your scheduled closing time. As soon as we receive the package, we generate your closing statement and fax it to your realtor — or directly to you if you do not have a realtor.

Yes. However, fees and disbursements are subject to the attorney's review and signature.

Yes — we can fax or email written wiring instructions to you. Please note that wires are not received immediately. Plan ahead.

You can wire us more than you think you will need, and we will give you a check for the difference at closing.

If the closing on your present property is located in North Carolina, you may bring the check you receive from the closing attorney. If you are closing on a property located outside of North Carolina and do not have time to get a certified check, ask us to fax our wiring instructions to the other closing attorney so they can wire your proceeds. If the amount exceeds what you need, we will write you a check for the difference at closing.

No — only certified funds will be accepted, unless the amount is less than $100.00. All of the money we collect at closing is disbursed the same day. The Rules of Professional Conduct and state law require the funds to be immediately available. Personal checks may take several days to clear.

Start the process as soon as possible. Our experience has been that it takes much longer than people think.

Yes. We prefer that you review it before you come in. If you have any questions or corrections, we would like to know as soon as possible. If we receive your package or information late, we may be unable to provide it ahead of the scheduled closing.

Yes. After we type your loan package, we copy it to give to you at closing. If you would like to review it before you arrive, just call and let us know — we will leave a copy with the receptionist for you to pick up, time permitting.

Yes. Though your spouse does not need to participate in the buying of the house, he or she must sign the deed of trust. When you get a mortgage loan, you convey a property interest to your lender, and your spouse's potential property rights must be subject to the mortgage.

Most lenders will allow you to sign on behalf of your spouse with a properly executed durable power of attorney. Check with your lender to confirm. Then call our office and request that a power of attorney be prepared, along with instructions on delivery to your spouse. The document must be notarized when your spouse signs it. We charge a small fee for preparing it, and the registry charges a fee to record it.