The state of North Carolina generally requires buyers to hire an attorney to assist with the closing process. Although you may not like the extra expense associated with doing so, having legal counsel on your side ensures that you understand what you’re agreeing to on the closing day.
An attorney may be able to resolve any issues that arise
It’s important to note that you generally won’t take possession of your home for several weeks after your real estate purchase offer is accepted. During this time, you’ll likely need to apply for a mortgage, have the property inspected and take other actions. Your real estate attorney may be able to help resolve any disputes that occur between yourself and other parties as the purchase process unfolds. For example, an attorney might be able to get the seller to agree to make repairs to the roof, foundation, or other critical components.
Legal counsel will likely answer any questions that you have
On closing day, you will be asked to sign a number of documents that obligate you to take responsibility for the property that you have agreed to purchase. Furthermore, you’ll be asked to agree to be responsible for a home loan that might take up to 30 years to pay off. An attorney will explain your rights and responsibilities before you apply your signature to the required purchase and loan paperwork.
Owning a home is a long-term commitment that you shouldn’t take lightly. Ideally, you’ll make sure that you are capable of making timely mortgage payments that fit in your budget, keeping up with routine maintenance, and being a good neighbor for years to come.