Murphy NC Real Estate Closings – NC is an Attorney State, Sorry Title Companies!

Real estate closings are always a lot of fun and an exciting time in Murphy NC! It means a buyer, and a seller, have come together to meet a common goal. Part of the closing is have the title work done on the property’s title to ensure it is free of liens, encumbrances, and other issues that could negatively affect the new owner. In North Carolina, that’s where attorneys, not title companies, come in.

With so many folks buying land and homes here in Murphy NC that aren’t from here, they aren’t used to this. Many other states in the US operate their closings with a title company and no independent attorney is involved. However in North Carolina, this is not the case. North Carolina has a law that all real estate closings must take place with a North Carolina licensed attorney.


Many folks hear they have to use an attorney and automatically assume that means a huge bill at closing. That’s not the case! Because using an attorney is the norm in NC, attorneys are reasonably priced because they all ultimately compete for the business. That makes it extremely affordable, and in my opinion, better. You have a trained eye with years of experience and even more years of education on your side to make certain the seller conveys clear title and the buyer receives it. Not only that, from folks I have spoken with who use title insurance companies for closings, the cost is almost identical.

Title Companies are STILL Involved

Even though North Carolina is an attorney state, the title company plays a pivotal role in the closing. The attorney submits the title work to the title company so the property can receive title insurance. The title company then AGAIN reviews the title to make sure there are no major issues that jump out at them and then issue the title insurance policy protecting the buyer’s interests in the property.

Are you looking for a good real estate attorney?

Then Fear Not! We use many extremely good real estate attorneys here locally in Murphy NC. If you’re looking for a good one, CLICK HERE to see our Gotta Guy List that has our recommended contractors and businesses here in Murphy NC. Scroll to down to the “Attorney – Real Estate” category, and choose!

Need a good real estate agent to get you to the closing where you’ll need an attorney?

Look no further! The Poltrock Team will make certain you are well taken care of 🙂 You can even see the experiences other real estate buyer and sellers have had in working with us by checking out our Testimonials to The Poltrock Team at REMAX of Murphy NC. You can call us or use our online SELL MY REAL ESTATE form or FIND MY DREAM HOME form and we’ll get to work for you right away!

John Poltrock – The Poltrock Team – REMAX of Murphy NC – – – Call us Toll Free at 1-866-Murphy-NC –  1-866-687-7496 – Murphy’s #1 Real Estate Team


Real Estate For Sale Sign Creates a Great Closing

We stopped in the RE/MAX Real Estate office in Murphy to met John because he had a property for sale right beside us. From the time we made an offer to buy the property all the way through closing, they were great! It was extremely helpful with us being in Florida because they took care of everything for us – surveyors, attorneys, you name it! Thanks guys!

Richard and Marilyn Reese
Sarasota, FL

The Poltrock Team – – Call us Toll Free Today at 1-866-Murphy-NC or 1-866-687-7496 – Skype: johnpoltrock – Murphy’s #1 Real Estate Team

Foreclosure Horror Story Means Your Should Buy Real Estate Safe in Murphy NC

I met with a man a few days ago who found us by reading our article on “What to Expect When Offering to Buy a Foreclosure in Murphy NC” and “Foreclosure Houses and Tips to Buying Them in Murphy NC“. It was one of the most discouraging attempted real estate purchases I’ve heard of in a long time.

The moral to his story is buy smart – go through a typical real estate transaction that have safeguards built in for your purchase. Read on and you’ll understand better what I mean.

Jim, as I’ll call him, bought a house with several acres adjoining the US Forest Service and absolutely loved it. He bought it from a wealthy friend of his who was a developer in Florida and life treated him well. They agreed to exchange it in a sale for $170,000. His buddy said he didn’t have to do a straight purchase, that he would be happy to finance it for him like a bank would. They did what’s called a Land Contract.

Jim put $40,000 in cash down on the house and has been making payments for several years. He’s put in a new well, done several major renovations, and by this time, he has invested about $120,000 total of cash in the property. Then he came home and found foreclosure documents on the door to his home.

Turns out the seller has a first mortgage and an equity line that’s been over extended on the property and hasn’t paid in months. The bank is foreclosing – simple as that. Since he has no legal ownership, his name is not on the deed, and the mortgage liens far superseed any right he has to the property, he cannot get anywhere. No bank will tell him what is owed on the property or anything else for that matter.

Jim has lost $120,000 in his own cash and now has nothing to show for it. His only option, if he wants to keep the house, is to wait for it to come out the other end of the foreclosure process and buy it. That means he will likely have $200,000 in a home that should be his that worth substantially less than that.

What could or should he have done in this instance? A traditional closing with owner financing in place. The closing attorney would have made sure there were no liens on the property (and if there were, they would have to be paid) and issued title insurance at closing.

Moral of the story again – Be smart about closings and buying real estate. Use a Realtor (namely The POLTROCK TEAM! 😉 and/or an attorney that specializes in real estate closings (you can find real estate attorneys in Murphy NC on our Gotta Guy List). That will give you true professional advice that can ultimately save you thousands, or in this case, over $100,000.

John Poltrock, Certified Residential Specialist – Murphy, NC Real Estate – – Call Toll-Free at 1-866-687-7496