Posted by Bev/NC on 5/16/09 10:52am
Msg #288676

NC Purchases

In NC can we omit the attorney and do Purchases ourselves? I'm going to be working with a developer and thought it would be great if I could do the closing instead of us having to go to an atty. The title company will do their job, the mortgage lady hers and me do the closing. Sounds good but can that happen? Thank you for any information you have.

Reply by sue_pa on 5/16/09 12:33pm
Msg #288687

I have no idea whether or not you can do a closing in NC. However, you say the title company will do their job ... part of their job is the closing. If you are legally permitted in your state, you would go after the title company the developer uses. I don't understand what you mean by "working with a developer"?

Reply by NC_Notary on 5/16/09 3:29pm
Msg #288696

As far as I know, NC is an attorney state when it comes to purchases. I don't think the attorney needs to be present but somehow the attorney needs to oversee the transaction.

Reply by NCLisa on 5/18/09 9:36am
Msg #288825

Most in state TC's do not do hud prep or the actual closing process, they just write the title binder and insurance. An attorney is not required, but the borrowers must have knowledge that they can call one for advice.

If you are working with a developer, then the developer should already have a real estate attorney in place. The TC can't even write a title binder until the attorney has certfied the title and verified all the plats, etc. It is the attorney that creates the CC&R's, legal descriptions, checks the accuracy of the plats, deal with common areas, etc. I used to work for a law firm that did all new construction. There is already an attorney involved. Also, most developer/builders offer lower closing costs if the buyer uses the builders attorney. Also, with new construction, there are final walk throughs, and punchlists that sometimes need to be dealt with at the closing table, only an attorney in NC can do that.

Also, do you know how to update and record?

Reply by Bev/NC on 5/18/09 9:25pm
Msg #288947

No, I do not know how to update and record..... but will and desire to learn all I can. I was thinking ahead of how I could bring my signing business in with me as I work as a Broker also. Doesn't hurt to try... We all didn't stop as a Notary so I was hoping that I could make this all work together and grow.