Information About Residential and Commercial Real Estate Loan Closings in Sanford, NC
Real Estate Lawyer in Sanford, NC
Loan closing is one of the more complex processes in real estate, though it can only take up to an hour to complete the actual closing of a loan. This process is something that is usually held at the office of your Sanford attorney in the county in which your property is located. The buyer of the property will be required to bring a cashier's check or certified check at the attorney's office on the day that the closing will take place.
Depending on certain circumstances in your unique case, the cost of loan closing can vary. You will need to cover any part of the down payment that has not been submitted with the original purchase offer, any type of out of pocket costs for the loan, legal costs, reimbursement to the seller for any type of non-realty items, and prepay for items such as PMI mortgage insurance and property taxes. If you have any questions regarding loan closing or any other real estate matters, do not hesitate to bring your case to our legal team at Post | Foushee | Gordon – Trial Lawyers.
Real Estate Attorney Serving Lee County, Harnett County, Chatham County and Moore County
When it comes time to close on your loan, you will need to sign certain documents, which may take less than an hour to complete. These documents help protect everyone involved in the enterprise in the event of unforeseen circumstances.
These documents include:
- The mortgage note
- The deed of trust (mortgage)
- The deed of trust riders
- The truth in lending statement
- The RESPA or HUD settlement statement
- Any environmental disclosures
- Hazard insurance policies such as fire, flood, earthquake, etc.
- Title insurance policy
Many deal with a real estate transaction, whether they are purchasing the land themselves or are selling it to another. In these cases, there are various components involved that can have a significant outcome on the end result. It is important to have legal guidance since any mistakes can cost you both time and money. When determining an agreement in the transaction, you want to ensure that you receive fair terms.
If you are buying a property, dealing with a transaction or just planning your estate, you need a skilled attorney to help you work out the best way to put your affairs in proper order. You can feel confident that our firm will comprehensively evaluate your assets and find the best way to help you close on your loan. We have all heard the horror stories of the destruction of families over property issues not properly accounted for in estate planning or during complex matters of loan closing. Don't let that happen to your family.
Contact a Sanford real estate lawyer at our firm to get the legal representation you deserve in closing your loan.