Yes, you can!  But, before you exchange funds for a Deed, you should investigate a few matters.  

The old days of writing checks for a real estate transaction are over and wires have replaced them. As a matter of standard practice, more and more law firms only accept closing funds issued via a bank wire directly to their trust account.  Moreover, many closing attorneys are sending mortgage pay-offs, agent commissions and seller proceeds via wire from their trust account.  Scammers and hackers alike have caught on to the fact that real estate transactions are an easy target for wire fraud.

Deed Warranties: Why Quit Claim Deeds Can be Problematic

In North Carolina real estate transactions, there are three (3) basic forms of deed which are used commonly: General Warranty Deeds, Special Warranty Deeds, and Quit Claim Deeds (Non-Warranty Deeds).  Each form of deed defines the scope of recourse and recovery purchasers may have against their sellers based on a claim of defective title.    

Seller Obligation to Address Survey Matters Continues After the Expiration of the Due Diligence Period

Although same-sex marriage is legal in North Carolina and throughout the United States, there is still a lack of clarity surrounding North Carolina’s laws as they relate to same-sex couples. Real property laws are no exception. Now that same-sex marriage is legal, these couples have the option of holding property through tenancy by the entirety. Holding a property as tenants by the entirety is a form of legal title available exclusively to married couples.

A Power of Attorney (POA) is a document in which a principal party appoints a fiduciary party to act on behalf of the principal party, typically in regard to legal affairs.  The POA can be a useful tool in residential real estate transactions when a necessary party will be unavailable to execute documents prior to or attend the closing.  Sometimes, however, providing a POA for closing a real estate transaction is easier said than done. Here are four things you need to know to facilitate closing a transaction using a POA:

Encrypting or Securing Emails in Real Estate Transactions is Imperative

In 2010 the Dodd-Frank Act created the Consumer Finance Protection Bureau (CFPB) for the purpose of supervising and regulating parts of the financial services industry.  The role of the CFPB developed to include providing guidelines to the financial services industry which would protect consumers from excessive risk.  One identifiable risk that stemmed from the CFPB’s regulation deals with the dissemination of Non-Public Information (NPI).  

Attention Mecklenburg County Homeowners:  Senate Bill 159 May Impact You

On October 1, 2015, the North Carolina General Assembly approved Session Law 2015-266 – Senate Bill 159 to clarify how additional taxes levied on undervalued properties can be collected by a county. The original Bill passed in 2013 to address the erroneous valuation of properties from 2011. The passage of the Bill resulted in the reevaluation of thousands of properties in Mecklenburg County. For properties that were undervalued, owners received delinquent tax bills dating back to 2011. 

If you grew up watching The Brady Bunch, you probably remember one of the most memorable episodes ever:  Episode 53 “The Wheeler Dealer.”  Greg is excited to buy his first set of wheels from his buddy Eddie. And, as we all know, Eddie isn’t always truthful.  A doe-eyed Greg gets taken in by Eddie’s pretty prose, and Greg gets stuck with a lemon, learning what in Americana is probably the most notable TV Latin lesson:  caveat emptor – or let the buyer beware.  

We are often presented with scenarios wherein heirs have contracted to sell real property.  In most cases, the heirs and their Realtors have been diligent in the initiation of the proper administration of the estate in the county in which the owner died.   In these cases, the estate matter usually poses no major issue, and the transaction can likely close on a normal schedule. 

Yes, the parties become friends and….it’s also marketing.

Assisting a family in finding their perfect home or helping a homeowner sell their house can be very rewarding. There may be no better way to commemorate such an event than taking a quick selfie at the closing table. Capturing those special moments and posting them to a social media venue is such an easy thing to do. The purpose of posting may be to express the genuine excitement an agent feels for their client’s special occasion or show their ability to help others in a similar fashion. 

Buyer, sellers, and real estate agents have a duty to disclose “material facts” regarding the property and transaction to all the parties involved.  Material facts include facts about the property, the ability of a party to complete the transaction, the ability for a party to use the property for a particular purpose and some facts that relate to the property or the neighborhood. Notice I said “some” facts that relate to the property or the neighborhood.

As North Carolina continues attract new residents from across the nation and as state-wide growth continues, one small public and private concern with regional development involves the management of water drainage.   

A few months ago, a real estate agent called me looking for advice under the following scenario: Their client bought an investment property with cash. When they purchased the property, the Homeowner’s Association (HOA) dues were prorated and paid through the end of the year on the settlement statement by the closing attorney. The client immediately started renting the property out. Over the next couple of years, the client did not pay the HOA dues claiming they never received the bills therefore did not realize there were any due.

In March 2016, Crescent Communities and Lincoln Harris announced their plans to build a new development on Charlotte’s west side. This new development is tentatively being called the “River District” since it will be located between Charlotte’s international airport and the Catawba River. Although the development will take years to build, the new district will be among Charlotte’s largest communities, ranking up there with the South Park and Ballantyne areas.