Real estate document preparation

Contracts and closing documents are a necessary part of any real estate transaction and there are countless resources on the internet that purport to be able to provide any number of them free or at a very low cost.  More often than not, however, the forms provided are not tailored to the party’s needs.  Oftentimes they omit important terms or language or are overbroad and put at increased risk the parties involved or getting the deal closed at all.  Since it is commonplace that real estate transactions do not always have brokers involved to provide preliminary guidance but the parties … Continue reading

How a Mobile Closing is Going to Make My Transaction Smoother

            Historically, closing on a residential property and use of related vendors to do so has been a largely local (to the property location) endeavor.  It does make sense to do so since local real estate agents, attorneys and other vendors have specific knowledge of intricacies of the area and other special processes that may be required to provide relevant advice and complete a transaction most efficiently.  Most times, it also requires a trip or three to the closing attorney’s office to sign documents and meet with other parties to the transaction in order to consummate the deal.  However, whether … Continue reading

Real Property Tax Time: Legislative Update – Tax Certification, H201

Now is the time of the year in North Carolina that real property tax (ad valorem) bills are going to be coming out in all counties, if they have not already.  They are most typically due upon receipt but not incurring any late charges or additional interest unless not paid by or before the first part of January of the following year.  You should check with the specific county (there are 100 counties in North Carolina) to determine exact date unpaid tax bills are considered late.             A North Carolina statute that sometimes get overlooked in connection with non-payment of … Continue reading

Earnest Money Deposit & Contract Default Damages Between North and South Carolina Residential Purchase Contracts

Many real estate attorneys, including Law Firm Carolinas, PA, work in North and South Carolina to handle matters in both states to benefit their clients’ best interests, but require competence in the laws of both states.  There are many differences in the laws of each state, so your counsel must have requisite knowledge of both in order to handle these types of engagements for you effectively. One area of difference between North and South Carolina is how earnest money deposits made in connection with an accepted offer to purchase are treated once the contract terminates due to default. In North … Continue reading

Property Surveys in Residential Real Estate Transactions

A property survey is typically obtained by a prospective purchaser of real property, either with or without a home currently constructed on it, during the due diligence period.  The surveyor will provide a sketch of the land that includes its legal boundaries, any discrepancies identified that may be present in public record documents and one or more of a number of items of note that could be present in connection with any specific piece of real estate (location of building(s), right(s) of way, easement(s), encroachment(s), monument(s), setback lines, any possible violation of applicable covenants, and many others).  There is typically … Continue reading

E-recording in North and South Carolina

E-recording of legal documents in local registries, while not exactly new (first one recorded in 2000 in Salt Lake County, Utah), has become much more widespread in use in recent years both by jurisdictions accepting this method of recording as well as local attorneys utilizing the same.  There are currently 1856 jurisdictions accepting e-recordings and growing.  North Carolina and South Carolina each participate though not at 100% for either state.  North Carolina has 81 out of 100 counties currently with ability to e-record and South Carolina has 19 out of 46.  The participating counties are mostly skewed to the more … Continue reading