Add Signature Field To Legal North Carolina Real Estate Closings Forms For Free

Closing on a home usually takes place 3-6 weeks after the offer is accepted. The actual closing appointment is allotted a 60 minute time slot. If both the buyer and seller are in full agreement and both understand all the documents they will be signing, then it should go quickly.

North Carolina works under the "approved attorney system" wherein the authorized practice of law in the state has licensed attorneys, or paralegals under the direct supervision of a licensed attorney, conducting real estate closings. There are no abstracting or escrow companies, per se.

A title is one of the single most important concepts in residential and commercial real estate in North Carolina. Simply described, ?title? is a legal term that refers to ownership over property. If you hold the title to a piece of property that means that you are the rightful owner of it in the eyes of the law.

Here's how it goes: An escrow agent will oversee the closing at the buyer's attorney's office. The buyer provides their agent with funds to pay for the closing and signs all necessary paperwork. The buyer's attorney records the new deed at the courthouse.

Unlike some states that allow title companies to facilitate home sales, residential property sales in North Carolina must be processed by a residential real estate attorney. In addition to the buyer, seller, and their attorneys, real estate agents and either an escrow or settlement agent may be involved in the closing.

In ?Attorney States?, a licensed attorney must be present at and have control over the closing. This includes reviewing the title search, preparing affidavits, receiving and disbursing all money. Several east coast states are attorney states: Georgia, South Carolina and North Carolina.