Real Estate Blog

Finding out your property is landlocked with no private or public access to a road is not news that any landowner in North Carolina wants to hear. If you have friendly neighbors that are willing to grant you an easement for access to a road, your problem is solved. However, difficulties may arise and litigation may be triggered when neighbors are not getting along and are unwilling to provide access to the landlocked parcel. With the help of an attorney, there are several methods to enable legal access to his or her property by easement. 
If you've been keeping an eye on interest rates, you know they have risen in the past few months.  Believe it or not, for some sellers this could be good news and put them at an advantage over other sellers.  Who are these lucky sellers and what am I talking about? I’m glad you asked. If you are a seller with an FHA or VA mortgage, those loans are assumable. An “Assumable Loan” is one that allows the payments and liability for the debt to be taken on by someone other than the original borrower.
There is little in the real estate business - or any business for that matter - that is not handled by electronic communications. Email exchanges are an effective and efficient manner to transact dealings with multiple parties. Most state legislatures have recognized the growing reliance on electronic communications in transacting business and have enacted statutes facilitating the incorporation of such messages into enforceable agreements. North Carolina is one of these states (North Carolina General Statute 66-311, et seq.). 
Recently, I was approached by a realtor representing a buyer who wanted to purchase property owned by a person who had been declared incompetent and therefore was a ward of another. The realtor's question was simple and precise: what do I need to do to facilitate this transaction?
EVERY SO OFTEN AT THE CLOSING TABLE, A BUYER WILL ASK ME WHAT MY ROLE IS IN THE CLOSING PROCESS.  It’s a valid question since our very first face-to-face interaction may be at that table. Up until this point, we may have only been communicating through phone calls and emails.  Assuming we are representing the buyers, and a lender is involved, here’s a brief overview of the process our office goes through during a real  estate closing:
You know the forms: a W-2 showing your income from your employer, a 1098 with the amount you paid in interest on a mortgage, a 1098-E if you paid interest on student loans, and a 1099 with any amounts your received as an independent contractor or from interest on an investment, to name a few. If you sold any real estate last year, you also received a Form 1099-S at closing or will receive one. 
Co-authored by Chris Foster, estate planning attorney While  most  of  us  are  accustomed  to  paying  sales  tax  at  the  grocery  store  and  department  store, individuals  are  not  used  to  paying  taxes  on  services  provided  to  the  consumer.    However,  recent changes  to  North  Carolina  tax  laws  make  it  mandatory  for  service  providers  to tax  those  that  benefit from some services.  One particular area in which these new service contract sales tax laws may affect you concerns your home.
Purchasing property is a stepping stone that prompts a sense of accomplishment and promise for the future. It should be an exciting time, but it can also be stressful and confusing. When the long anticipated day for your closing finally arrives, an attorney will prepare and begin to explain a number of different documents. One of these documents will be the deed. Although all of the documents you will review and sign are important, without the deed, ownership will not be transferred from the seller to you, the buyer.
When an owner of real property decides to sell, North Carolina requires that owner to make several disclosures to prospective buyers.  One of those disclosures discusses whether or not the property has been severed of its mineral and/or oil and gas rights. 
By the time a file makes it to closing, a borrower has usually spent weeks or months working with a particular lender. One question that comes up often during closing is whether the borrower will stay with their lender, or whether their loan will be sold to a new servicer. While some lenders are moving towards keeping their servicing in-house, in most cases, it is still the later – the mortgage is sold to a new servicer, sometimes even before the first payment. The good news is that the transfer is usually seamless and is nothing to worry about or stress over.

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