Hiring an Attorney for Your Real Estate Closing in Concord, NC

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Real estate closings are often a long and stressful process. Once you’re under contract on your dream home there are a variety of procedures that have to be followed before you can officially call yourself a homeowner. When trusting Shepard Law with your real estate closing we can ensure a seamless process for handling your legal documents, as well as providing you with clear knowledge of what to expect leading up to closing day. Read our steps below to better understand what you can expect from your real estate closing when buying a house in Cabarrus county.  

Title Examination Process for North Carolina Home Buyers

Upon receipt of a real estate purchase agreement or a request for a refinance, your closing attorney will begin the process of checking the title of the property to determine whether the title is marketable and clear for the seller to transfer the property to a new owner. The title examination will identify if there are any title defects that need to be addressed prior to closing. At Shepard Law, we identify any of these issues and make every effort to satisfy them without delaying your closing.

Why is Title Insurance Important for NC Home Buyers 

Title insurance protects the buyer and the lender in the event a future problem is found with the title. This is extremely important because it protects both the buyer and lender against loss or damage occurring from liens, encumbrances, or defects in the title. Title insurance can protect you from a multitude of different issues, for example: 

  • If the seller co-owned the title and didn’t include the co-owners
  • If the seller doesn’t actually own the property 
  • If the seller has existing legal claims that need to be paid from the proceeds of the sale
  • If one or more of the owners is deceased 
Once the title examination is completed, your closing attorney prepares a title opinion and sends it to a title company for the issuance of a title binder.  

Real Estate Closing Fees in North Carolina 

Your attorney represents you as the buyer throughout the closing process. We typically handle the needs of all parties involved in the transaction, but our legal representation is with the home buyer. We are here to protect your interests throughout the closing process.

Your lender should have given you a preliminary closing disclosure document with their anticipated closing fees. From there we take the lender’s disclosure and add in additional fees, such as:  

  • Attorney fees
  • Homeowners insurance
  • HOA fees
  • Recording costs
  • Document storage and shipping fees

Any costs that were negotiated by your real estate agent after your home inspection will also be included in the final closing disclosure. For example, additional costs may arise if your appraisal comes back lower than originally agreed upon, or damages are identified during your inspection.  It is important to keep your attorney in the loop so we can ensure your closing documents are fully updated to reflect any changes.

Understanding Each Step of the Closing Process as You Prepare to Buy a New Home

Overall, you need a reliable and trusted legal advisor to assist you during your real estate closing process. Shepard Law’s team will handle the preparation of your closing documents and provide you with clarification on confusing documents such as your: 

  • Deed
  • Settlement statement 
  • Loan documentation 

Once all documents are signed and the deed and deed of trust are recorded, we distribute all funds involved in the transaction for both the buyer and the seller, of which could include: 

  • Brokerage fees 
  • County, city and state taxes 
  • Homeowner’s insurance premiums 
  • Inspection fees
  • Seller’s proceeds 
  • Attorney fees
  • Paying off the seller’s mortgage and any liens 
  • Taxes and HOA as prorated between the buyer and seller

Scheduling Your Real Estate Closing in Cabarrus County

At Shepard Law, we want to ensure that you have a seamless process when preparing to close on a new home. We use an online portal that allows our clients to easily upload all required documents in one location, submit fees associated with your closing, and stay on track with all of your deadlines leading up to closing day. Our attorneys are here to ensure you are legally protected and checking off all the right boxes throughout the home buying process. Reach out to us today to help you prepare to close on your new Charlotte or Concord area home.