Cynthia Pela

Understanding the Deed of Trust: What Exactly are you Signing at Closing?

We often joke at the closing table that a borrower is about to sign their life away. Maybe it is not that serious, but signing the promissory note and deed of trust at closing is a life changing event. The promissory note is the promise to repay the loan funds to the lender. The deed of trust secures the house and land to the note and allows a lender to foreclose on a property if there is default. The most common default is failure to make the payments under the promissory note.

HOA Transfer Fees: What Are They and Who Pays Them?

I am frequently asked by listing agents why their seller is being charged for the homeowner’s association (HOA) transfer fee on the Alta settlement statement. In the past, this question was easily answered because the 2015 version of North Carolina’s Offer to Purchase and Contract explicitly stated that the transfer fee was to be paid by the seller; however, now the explanation is a little more complicated.

NC Residential Property Disclosure


Sellers of real property in North Carolina have a lot of obligations to fulfill before selling their property such as ensuring they can provide good title to the buyer and making needed repairs. However, there is another obligation many homeowners do not realize exists, especially those selling their home without the aid of a licensed real estate agent. 

5 Tips to Find the Right Selling Agent

For most people, a home is a person's greatest investment; thus, the decisions involved in selling that investment should be strategic. Oftentimes, though, sellers make hasty decisions when hiring a real estate agent to sell their home. They hire friends or friends of friends and don't do their homework, not realizing the damaging effects a poor hiring decision can have.  Sellers should set their standards high. Choosing the right listing agent can not only effect your property’s time on the market, but also the return on your investment.