Please complete the information sheet provided to you. Please note we require the name, telephone number, and account numbers of all loans on the property (this includes equity lines with zero balances).

Do I need to attend the closing?

You are always welcome to attend closing if you wish. If a realtor represents you, your realtor will attend the closing and he or she can sign the closing statement for you. When our office prepares the sellers' documents, we always prepare a Power of Attorney for you to sign to give your realtor the legal right to sign documents on your behalf at the closing. However, in some instances, for example, if the borrower has obtained FHA financing, there will be at least one document for you to sign. The realtor cannot sign this on your behalf without a power of attorney.

When can I get the sale's proceeds from the closing?

The North Carolina Rules of Professional Conduct prohibit us from disbursing any funds until after the deed and deed of trust are recorded at the register of deed's office. After the closing, we will update the title and then record the deed transferring title to the buyers. Once we have recorded, your proceeds check will be available for you or your realtor to pick up. We are committed to getting the deed recorded as soon as possible. However, there are many circumstances that may delay recordation immediately after closing. For example, we cannot record until we have received the buyer's loan funds. If the buyer's lender is wiring us the money, we typically do not receive wires until after 1:00 p.m. If you close on the last day of the month (typically a high volume day for closings), we usually will record only twice during the day.

Can I have my money wired to me?

Yes. Please furnish us with the wiring instruction as soon as you decide to have the funds wired. The closing statement will reflect a charge for the wiring fee.

Can I have my money overnighted to me?

Yes. The closing statement will reflect a charge for an overnight delivery fee.

Does it matter what time of the month I close?

In our experience, the majority of closings are scheduled for the end of the month. If any of the loans you presently have on the property are FHA loans, the bank must receive the payoff by the first day of the month or you will be charged another month's interest. If you have an FHA loan, it would be prudent to schedule the closing for the third week of the month.

How do you calculate the payoff on my existing home loan?

We always obtain a written payoff from your lender. Your payoff will be a higher figure than your loan balance due to the accrual of interest.

How are taxes figured?

Real property taxes are due at the beginning of a calendar year for the prior year. If you close between January and the time the yearly tax bills are mailed (usually late summer), the closing statement will show a credit from you to the buyer for your share of the taxes. The Buyer is responsible for the entire tax bill when it is assessed. We prorate the taxes using the tax bill amount for the previous year.

If you close after the tax bill is mailed, we will collect your portion of the tax due at closing, and the buyer's share from them in order to pay the entire amount due. We will pay the tax bill on the day of closing.

Why do I have to pay taxes when I have been escrowing my taxes with my present lender?

If there is an unpaid tax bill on the day of closing, we must pay it. Although you may have been escrowing taxes all year, if the tax collector has not received and credited that amount to your account, it remains an outstanding encumbrance. When your lender receives the payoff of your loan, it will either send you your escrow balance or credit the escrow balance to your loan reducing your payoff balance.

How will I get my escrow account returned to me?

If not applied to reduce your payoff balance, your lender will return it to you. Contact your lender to see how long it usually takes.

I am attending the closing for the purchase of my new house the same day as the closing on the sale of my present house. I need the money from my sale for my purchase. Is this going to be a problem?

Maybe. It is always preferable to close the sale of your home on one day and the purchase of your new home on the next day. If you must close both on the same day you will need your Realtor's help to coordinate the two closings. As we stated above, there are certain circumstances where even if you close at 9:00 am you still may not have your proceeds until mid afternoon.

The house I am selling is in my name only. Will my spouse be involved in the process?

Yes, your spouse must also sign the deed. This is because a spouse has potential property rights in any real property the other spouse owns, and those rights must be released if the property is conveyed. This is true even if you, the owning spouse, obtained the property before you were married, or inherited the property from your family.