Real Estate Attorney

Do you need a lawyer for your real estate closing?

You do if you answer NO to any of the following questions!

• Do you trust the other parties involved not to take advantage of you?
• Do you understand the Contract provisions?
• Do you understand your inspection rights?
• Can you negotiate your repair credits?
• Do you have a fidiciary relationship with your representative?

Purchasing or selling a home will probably be one of your largest and most important financial transactions. Before signing a contract to purchase or sell a home, both buyer and seller should consult an attorney to assure that the real estate transaction will be handled legally and professionally.

Although an attorney is not a required part of the process, particularly in many states where escrow companies will attend to all closing transaction details, an attorney can protect your interests and help you resolve any potential legal problems before entering a legally binding contract.

Sometimes buyers feel the need to sign a contract quickly and don't have time to initially consult an attorney. In these cases, buyers can include language in the contract that will allow their attorney time to give final approval on the agreement – usually within three to five business days. This allows both buyers and sellers to expedite the contract process without fear of inadequate legal representation.

Sellers and buyers alike should familiarize themselves with the real estate transaction process before selecting an attorney. Learning the formal steps in the transaction will help buyers and sellers choose the right attorney and proceed with confidence. Throughout the process, attorneys should attend to a variety of responsibilities, including consultation prior to the signing of the contract, preparing or approving the contract, examining documents and supervising the closing of the transaction.

The attorney should be responsible for preparing or evaluating documents which may be necessary for completing transfer of the property. There are usually several documents to prepare in any real estate transaction, and the attorney can evaluate and explain each document to the buyer or seller whom he or she represents. The deed, the bill of sale, mortgage, promissory note, title commitment and the closing statement are only a few of the important documents that an attorney should review with the seller or buyer prior to the closing.

One of the attorney's most important responsibilities in the real estate transaction is to determine the condition of the seller's title to the property. Through this process, the attorney will discover if the seller is the legal owner of the property and if there is an unpaid mortgage or lien which must be settled before the title to the property can be properly transferred. The attorney will also discover any restrictions or easements which are on the property and the status of any unpaid property taxes or assessments.

The buyer, the seller and their attorneys usually appear together at a final meeting to review all closing documents. As this meeting, usually referred to as the "closing," the attorneys help explain, sign and exchange the documents and approve or clear up any remaining financial matters relating to the transaction. After the transaction is closed, an attorney will attend to any final details such as properly recording the deed, mortgage or other necessary documents and issuing title insurance policies.

Many attorneys are specialized, and it is important that you choose one who knows real estate terminology and real estate transaction processes. Before hiring someone, you should discuss all the details of the transaction with your possible candidate, including all legal costs you will incur.

The attorney's duty in any real estate transaction is to provide legal expertise. Through sound advice and thorough execution of all legal responsibilities, a good attorney will help you complete your transaction swiftly and with confidence.

Having a competent and efficient attorney is a must to ensure no surprises and answer any questions or give legal advice about your particular transaction. No two transactions are the same, and having the legal resources you need, immediately when you need them, is invaluable. Below are some of the most prominent attorneys who really stand out in the Pinehurst area. We think you'll find their services more than adequate.

Justin Lewis (Thigpen & Jenkins)
300 Pinehurst Avenue
Southern Pines, NC 28387
Phone: 910.693.3741
Fax: 910.693.3746

Mike Gorenflo
The Gorenflo Law Firm
1100 Seven Lakes Drive, Suite H
6535 Seven Lakes Village
West End, NC 27376
Phone: 910.673.1325

James Holshouser, Attorney at Law
100 Market Square PO Box 1227
Pinehurst, NC 28370
Phone: 910.295.4250
Fax: 910.295.2630

Craig Phifer
Randy Shelton
Shelton, Clarke & Phifer
135 Applecross Road
Southern Pines, NC 28387
Phone: 910.692.5100

Paul Trevarrow/Clark Campbell
Biltmore Executive Center
285 Olmsted Blvd., Suite 3
Pinehurst, NC 28374
Phone: 910.255.0580