This week I'm continuing the community series in order to better help our couples navigate their new life together. In case you've missed them, first I spoke with Matt Polinchak about real estate and hurdles to overcome when choosing your first home. Dan Stanton talked about important steps when it comes to your mortgage loan, William Moore advised couples to have financial conversations up front to make sure any expectations are discussed and a plan is put into place to achieve your goals.
Today Jonathan Anderson with City of Oaks Law will be answering a few questions as they pertain to your closing attorney and the legal work involved in purchasing your first home.
As many of our newlyweds are navigating the world of home ownership, they are discovering just how many steps are involved in the process. So, once they've gotten their home under contract, what's next?
The closing attorney is the next step. Your real estate agent and lender will have recommendations for you. It is your right to choose, so be sure to vet and feel comfortable with the closing attorney that you pick. They are the last line of defense in ensuring the integrity of your transaction.
What exactly does a closing attorney do?
The closing attorney is responsible for searching the title to the property, obtaining title insurance, preparation of closing documents, handling the signatures, recording, and disbursing funds. This list is not comprehensive, but gives you an idea of some of the important tasks that the closing attorney handles for you.
At what point in the process should the couple meet with the attorney?
In some transactions, you may meet the attorney only at the signing ceremony. However, you are welcome to reach out to us at any phase of the transaction for advice on contract negotiations, disputes, and understanding your legal rights and duties.
Some lenders say they will send a notary to the house and that you do not need an attorney, is this true?
This is not a good idea. Only North Carolina attorneys can certify title to North Carolina property. Also, if there is an issue, it may not be discovered until you sell your home, and you want to have an attorney's office that you can rely on to correct the issue. Attorneys' are licensed and insured, and the notary that comes to your house, while convenient, does not have the same skill and care that an attorney will provide. Additionally, our attorneys are mobile and we do offer in home closings if that is your preference.
What other services do you provide?
We do estate planning. Often times when you purchase real estate, major life changes are happening. It is a good time to have your estate planning documents reviewed. We review estate planning documents for homebuyers for a nominal fee. Often no revision is necessary, other times, it makes sense to revise your estate plan at this time.
Why do you love what you do?
I love what I do because I get to work on complex transactions that require extreme diligence, particular skills, and a human touch.
Jon has become a great friend over the past several months and I highly recommend him for all your housing related attorney needs. (He also offers other services of course). He is super friendly and approachable, won't talk over your head about all the legal jargon and will make sure everything you need is taken care of. You can contact him here.