The Key To Closing in NC

If you have been following my blog, then you have learned by now that buying and selling a
home in North Carolina is a unique experience. There is a lot of verbiage and key differences
(see what I did there) that stand out, and this week we are going to get real familiar with keys at
closing, or not at closing.

If you or someone you know has purchased a home, then you likely sat at a table, signed
paperwork, and then were handed keys to your brand new (or new to you) home. That is not
going to be the case in North Carolina, or at least not for 99% of the time. You see North
Carolina has a “race to record” rule. This means that ownership isn’t officially yours until your
deed is recorded at the county Register of Deeds. Even if you signed all the closing documents,
you aren’t legally the owner until the county publishes the deed. AKA, you do not receive keys at
the closing table.

This seems like a big bummer to a lot of folks who are looking to get handed those keys at
closing, but there are benefits.

1. Recording protects you from competing claims. Recording establishes a clear legal priority
2. Prevents fraud and protects both parties
3. Verifies that everything is final through the lenders and attorneys

So now you know that you don’t get your keys at closing, but how can we get you your keys the
day of closing? There are many factors that can contribute to a speedier recording, so let's break
them down:

● Making sure all forms on both sides of the transaction have been signed and sent to the
attorneys to include the Closing Disclosure and ALTA

● If cash to close is owed by either side, ensuring that those funds have been sent into the
attorneys office

● Closing earlier in the day gives the attorneys, lender, and clients the opportunity to get all
forms and funds in and processed, so the file has more time to be sent to the county of
closing

● The county matters. There are certain counties that have a history of deeds recording
more quickly than others for a variety of reasons. This should not deter you from offering
on the house of your dreams, because we will prepare the closing to create the best outcome
no matter what county

● Working with an agent (me), lender, and attorney who are aware of these factors and
have a game plan already in place to ensure a same-day recording for you and the seller

Buying a home in North Carolina is still an amazing experience, even if you do not get your keys
at the closing table, and I am here to make it as smooth as possible, with you walking away more
educated than you thought you could ever be on buying in North Carolina. That is the Smith
Standard. I hope this helps, but for now I must:

Sashay away,

Allisha