Real Estate Transactions in Duplin County

Contact an Experienced Duplin County Lawyer

At Hunter & Price, P.A., we represent residential and commercial buyers and sellers who are in need of legal assistance through the real estate closing process. Our lawyers have the expertise necessary to help you navigate each step of the closing process. We offer professional and hard-working representation to help you complete the closing process in an efficient and timely manner. Our firm's knowledge and client dedication are two attributes that can benefit you throughout the closing process.

Personal Representation from a Wallace Real Estate Lawyer

Whether you are a buyer or seller, we take the time to understand the specific details of your real estate transaction to offer a personalized resolution. Our personal attention to your real estate transaction sets our firm apart from other legal groups that delegate all the client interaction and real estate work to paralegals and assistants. Our attorneys are involved throughout the closing process and present at most closings.

When you are selecting a firm to handle your real estate project or contract negotiations, look for a firm that is serious about real estate and devoted to paying attention to the particular details of your transaction. Hunter & Price, P.A. is known for the personal and devoted legal assistance we offer. Our firm is committed to helping you successfully complete your real estate transaction painlessly and on schedule. Contact Hunter & Price, P.A. now for efficient and timely representation from our Duplin County attorneys!

How We Can Help You with Your Real Estate Transaction

Our legal team handles various matters related to both the sale and purchase of residential or commercial real estate. We can help our clients through each step of the case, from the negotiation of the terms of the real estate sales contract to the closing of the property. Once the terms have been agreed upon, our team can help you prepare all necessary documents to complete the transaction.

Most Buyers, and even real estate agents, do not know or understand the duties and work of a closing or title attorney. The following describes the work most title attorneys must perform to insure the soundness of the title to the property the Buyer wishes to purchase.

Current Title or Owner

After receiving a copy of the sales contract, the title attorney must find the current record or title owner of the property in the public records. This means the title attorney must find the current record owner of the property as established by the public records. In some cases, the Buyer may think he is purchasing the property from John Smith, but in reality the record owner is a corporation named J.S. Associates, Inc. The title attorney must then contact the Secretary of State's office to determine the corporate owner's status as a corporation.

Chain of Title

The title attorney must then establish the "chain of title" for at least the last 30 years. Every prior deed of conveyance of title must be scrutinized for proper execution of the document. In some cases, estate files must be reviewed in a case where a prior owner died before the next conveyance was made. Sometimes the title attorney will have to contact former owners or those who knew the former owners to verify ownership of the property.

Out Conveyances

Once the chain of title is established, the title attorney must review the Grantor index held at the County Register of Deeds office to determine all out conveyances of record made by each of the prior owners of the property. This is done to insure that none of the prior owners ever conveyed the subject property (or a portion of it) previously. This can mean checking five to ten out conveyances on up to several hundred, depending on the activity of any of the former owners. Additionally, checking the "outs" will establish the outstanding deeds of trust against the property - deeds of trust, which must be paid off before the Buyer can obtain clear record title.

Judgments and Liens

After establishing the chain of title and out conveyances, the title attorney must also check the judgments, civil actions, special proceedings, lis pendens, miscellaneous, taxes and assessments which may have become liens against or affect title to the property. If there are outstanding

judgments against a previous owner, these must be satisfied or released as to the property to clear title for the Buyer. Releases and other agreements must be drafted to facilitate clearance of title.

Restrictive Covenants

Most subdivisions, townhouse and condominium projects have restrictive covenants, which apply to each and every lot within the subdivision. These restrictive covenants provide requirements for location of a house on a lot, the use of the lot and location of service and drainage easements. The title attorney must review these restrictive covenants and a current survey of the lot to be sure there are no violations of the restrictive covenants (i.e. a shed which violates a side set back).

Lender's Instructions

The closing attorney's office also prepares the loan documentation according to the lender's closing instructions.

While the closing attorney cannot negotiate or change the terms and fees associated with the loan, the closing attorney is responsible for:

• Ensuring that the correct fees and charges are included in the HUD1 Settlement Statement and/or Closing Disclosure according to the lender's closing instructions;
• Ensuring that the correct legal description is on the lender's deed of trust and proper recordation of the deed of trust;
• Ensuring that the lender's loan package and title policy are delivered to a lender as soon as possible.

This represents an outline of the work a title attorney should do for a Buyer of real property. Many times, far more work is involved if there are numerous judgments, assessments or other title defects associated with the property which must be corrected before closing.

At a minimum, a title attorney will spend ten (10) hours of work time devoted to the entire transaction of a Buyer from beginning to end. Many closings require far more time where issues involving interim lease agreements, negotiations of purchase terms, and other special documentation are required.

How We Can Help You With Real Estate Related Disputes and Lawsuits

Our firm is also available to represent both plaintiffs and defendants through litigation involving real estate disputes. If you are in need of assistance handling claims that involve easements, boundary line disputes, title disputes, or partition actions, our firm stands ready to guide you through the litigation process to a resolution with the opposing party or, in the alternative, to a decision of a jury or judge. We offer services founded in the principles of integrity, excellence, and accessibility. Take action today for guidance through your real estate dispute.