Closing Information for the Seller

WE REQUIRE THAT A COPY OF A VALID DRIVER’S LICENSE OR OTHER ACCEPTABLE FORM OF IDENTIFICATION BE RETURNED WITH THE EXECUTED DOCUMENTS IF SENT BY MAIL. IF DOCUMENTS ARE EXECUTED AT OUR OFFICE, WE REQUIRE A VALID FROM OF IDENTIFICATION AT THE TIME OF EXECUTION.

DISCLOSURE REGARDING SELLER DOCUMENT PREPARATION

Our office may agree to prepare closing documents on your behalf in a closing in which we represent the buyer. If our office is asked to prepare these "seller documents", we will do so (upon approval by the buyer); however, should a dispute arise between buyer and seller, our office would withdraw representation from both parties. You may hire your own attorney to represent you in a closing that would not be subject to such limitations and could provide legal advice to you.

REQUIRED INFORMATION

You must let our office of any mortgages, liens, judgments, or other encumbrances that affect the subject property. If you have a mortgage, we will request a payoff good through at least three days following the closing date. Although our office can obtain payoff information on your behalf, it is sometimes faster to contact your lender yourself to obtain the payoff information.

If you are married, your spouse will need to sign the deed conveying title to the property regardless of whether their name appears on the deed to you. There may be some specific circumstances where your spouse's signature is not required; you may contact our office for additional information.

If you are separated or divorced, please notify our office as soon as possible so we may determine who the necessary signatories may be.

DISBURSEMENT OF PROCEEDS

Timing

Proceeds cannot be disbursed until the deed conveying title to the buyer has been recorded. If a lender is involved, the lender will need to authorize disbursement before a deed can be recorded. Therefore, please allow between 24-48 hours from the date and time of closing for disbursement.

Method of Disbursement

Our office can disburse funds in one of two ways - by check or by wire. If you choose to have funds wired to you, a wire fee of $25.00 will be added to the settlement statement. If you choose to have funds overnighted to you, a courier fee of $35.00 will be added. No fee is charged if you elect to pick up the check directly from the office.

**NOTICE OF WIRE FRAUD.** The North Carolina State Bar has notified attorneys of sophisticated scams specifically targeting real estate closings. In order to better protect you, our office requires that a disbursement authorization form be filled out with your wire information and returned to our office prior to or at the time of closing. This form must be notarized. We cannot accept a scanned version of the form. A blank version of this form can be found under the "Forms for Closing" subsection on this website.

**NOTICE OF ROUTING NUMBER FOR WIRES.** The routing information found on a personal check may not be the same routing information required for a wire. Some banks have specific routing numbers to be used for wire transfers. To ensure that you have the provide the correct routing number, contact your bank to confirm the number the bank uses for wires. If you provide us incorrect routing information, your disbursement will be delayed.

STANDARD SELLER DOCUMENTS

If our office prepares seller documents on your behalf, you will need to execute some or all of the following documents:

  1. General Warranty Deed;

  2. Owner Affidavit and Indemnity Agreement;

  3. 1099s;

  4. Closing Disclosure / ALTA Universal Form and / or Settlement Statement; and

  5. Wire authorization / Disbursement authorization.

Our office will make every effort to provide the settlement statement to you as early as possible prior to closing. It is important that you review the settlement statement for accuracy upon receipt. If any changes need to be made, contact our office immediately.

Most of these documents will require notarization. Specific instructions on how to complete documents can be found under "seller document instructions" on the "Forms for Closing" subsection.

MAIL AWAY CLOSINGS

Sometimes it is impossible for the seller to attend closing in person. In these situations, a mail away closing will be necessary. Additional coordination is required to ensure the success of a mail away closing. If you know that you will not be able to attend closing, please let our office know as soon as possible so that we may prepare accordingly. Additional charges to you may apply for costs involved in sending and / or receiving the documents.

You will need to provide our office with a copy of your driver's license (or other acceptable form of identification) with the closing documents.