Closing Attorney in Raleigh, NC, Murphy Law
Closing attorney in Raleigh, NC, Murphy Law is a full-service real estate law firm. We perform closings and represent not only the buyer, but we can represent the seller as well as builders. Closings with Murphy Law are simple, convenient and hassle-free.
Buyer Representation
While purchasing a home is an exciting time in your life, the process can also be extremely stressful as well. Contracts must be executed, the title must be checked, loan documents must be signed, and proceeds delivered to the right people.
In North Carolina, it is mandatory to have an attorney for your closing and honeslty, it’s a valuable asset that will provide peace of mind throughout your process. If you are purchasing a home in the Raleigh, NC area, the Murphy Law is a closing attorney you can trust.
The Role of a Buyer’s Closing Attorney
- PREPARING OR REVIEWING THE CONTRACT: The role of a buyer’s attorney is to review the terms of the contract and explain these terms to you so that you understand the document which you are signing. A buyer’s attorney often adds additional terms to the contract for the buyers and sellers to negotiate. We can even negotiate these terms on your behalf along with your real estate agent.
- CHECKING THE TITLE: After a contract has been executed between you and seller, we will order title work for your property. Once we receive it, we’ll review it and search for any problems in the property’s title, such as judgments, easements, or encroachments. If any of these are discovered, we’ll take the necessary steps to resolve the issues.
- OBTAINING TITLE INSURANCE: Title insurance is an insurance policy that protects both you and your lender from any costs which may accumulate if you were to have to defend the title to your property. We can assist you in obtaining a title insurance policy for your home.
- COLLABORATING WITH LENDERS: If you are taking out a loan to purchase your property, your lender will require a large amount of paperwork in order to approve you for a mortgage. We’ll be working with you to provide your lender with the necessary documents for your loan.
- ATTENDING YOUR CLOSING: Attending your closing is our most important role in the closing process. During the closing, we’ll represent your interests and explain to you the purpose of each document you are signing and share what impact these documents have on your closing.
- DISBURSING FUNDS: Once your closing is complete, we’ll ensure that funds from the closing are properly disbursed. This includes paying sellers, disbursing commissions to real estate agents, and paying taxes for your property.
List of Typical Homebuyer Expenses
There might be fees that you will have that are associated with your transaction. We are happy to explain these to you as a part of our process.
- Home Inspections
- Home Surveys
- A share of yearly property taxes, property association dues, and other similar fees prorated to the closing date.
- Attorney fees for a title search.
- Fees for title insurance policies, hazard insurance for a year, down payment and lender fees, flood zone certification fees.
- Fee to record the new deed.
- Funds to open lender escrow accounts for property taxes and insurance that will be paid by lender the following year.
Seller Representation
For both individuals and families, we provide full-service seller representation that covers residential real estate transactions. We will protect your financial interests so that you can get the best possible outcome.
As the attorney representing the seller, we have your interest at heart. We will review and amend the Offer to Purchase and the Purchase and Sales Agreement and will negotiate the terms of both documents with the buyers, their realtor and/or their attorney.
You are responsible for clearing up any title matters disclosed by the title examination. We will disclose the problems but it is the your responsibility to clear up any outstanding issues.
List of Typical Seller Expenses
There might be fees that you will have that are associated with your transaction. We are happy to explain these to you as a part of our process.
- An attorney fee for deed preparation.
- Tax Stamps, Excise Tax Based on Sales Price
- Prorated share of Property Taxes, Property Association Dues, or Similar Fees
- Real estate commission, typically 6% if a traditional broker is involved.
- Fees associated with paying off your loan(s)
- Fees associated with transferring funds into a checking account.
- Any costs that you agree to share with the buyer.
Builder Representation
We have long been involved in representing home builders in all aspects of creating and building residential communities from the purchase transaction and development of the contract to the closing of the property.
We proudly represent home builders in the acquisition of new land, which they can then develop into subdivisions. We also represent builders in the acquisition of developed lots from lot developers. We are sure to share our knowledge of all aspects of the purchase, including preparation of the purchase agreement, examination of title, and development of easement agreements. We can also handle closings for the acquisition of raw land and lot takedowns. We are here to make this process as simple as possible!
About Murphy Law
Margaret Willis Murphy graduated from Campbell University School of Law and has been practicing residential real estate law in Raleigh, North Carolina since 1999 and Murphy Law has been serving the Raleigh, Cary, Wake Forest and Garner ever since. We assist our clients with a wide variety of services including home purchases, mortgage refinances, investment property purchases, foreclosure purchases, construction loan closings, equity line closings, residential property management issues, contracts with new builders, contract negotiation, contract review, lease option contracts, buyer representation, seller representation, builder representation, issues with liens, filing of deeds and deed preparation for separations, marriages and trusts, as well as power-of-attorney preparation. To learn more or to contact us to get started on your closing, click here.
