Attorneys and CPAs: What is Their Role in Buying a Home?
You already know that a mortgage lender and a real estate agent are essential parts of your homebuying team. But are there other professionals you should have in your court to ensure that everything is going smoothly for your purchase? There may be some unsung heroes in the process that you haven’t thought about. In this post, we want to discuss the role of CPAs and Attorneys when buying a home and how you can be completely prepared.
Working With a CPA
Your accountant isn’t an active participant in your homebuying process, like your real estate agent or mortgage leader, but they’re still an essential component to your financial health. Many people tackle their own taxes, and that’s fine for the most part. There are software packages and online tools that help individuals file taxes on their own.
But what if there is one simple thing that you’re missing that could allow you to buy the home of your dreams? You would never know without a professional to help. CPAs can be affordable and can help you file your taxes to ensure you get the best results. This is especially true for all the people in Asheville who work for themselves.
And, of course, don’t forget to pay your taxes on time. This will affect your long-term finances and your ability to get a mortgage.
Working With North Carolina Attorneys
In North Carolina, your closing is always handled by Attorneys. There is no way around this, so you may as well embrace the process to make sure you have a great team on your side. And if you’re coming to Asheville from a state that doesn’t utilize Attorneys for this part of the process, the change can feel dramatic.
Ultimately, Attorneys are there to ensure your closing goes off without a hitch and that once the last form is signed, you own your property with clean title. Here are some steps to help you ensure the process runs smoothly.
- Select a lawyer: Once you have a contract in place, find a lawyer. Your real estate agent or lender can help you find someone who specializes in real estate.
- Provide the contract: Attorneys should get a copy of the contract as soon as possible so they can begin the process.
- Run the title search: Attorneys will handle this process and facilitate a title insurance policy.
- Order a property survey: You can elect to have your lawyer run a property survey to ensure that there aren’t any encroachments that need to be resolved.
- Get a figure: Your lawyer will also work in conjunction with your lender to review all the costs and help prepare the CD – Closing Disclosure.
- Conduct the closing: Once everything is in place, you meet with the lender, the agents and your lawyer to review the final closing package and get all the appropriate signatures in place.
- Record the deed: The final step of the process for your lawyer is to file the deed. They’ll distribute all the funds and return paperwork to your lender, upon receiving funding authority.
We always recommend that your first step is to contact a lender to determine how much house you can buy before you even start looking. But we also encourage you to consider your taxes and financial health ahead of time. And don’t forget to prepare for the lawyer when you’re ready to close. To learn more about the entire process, contact us today.
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How we can help you
Although labeled an independent mortgage lender, Prime Mortgage Lending, Inc. is not a one-man operation. Zachery Adam and his Team has the support of a streamlined operation, with professionals who assist in every phase of the loan process. His team includes an appraisal vendor, loan processors, underwriters, closers and even the CEO or president if needed. When you choose to work with Zachery, you get the support of his team as well.
It’s important to Zack that he and his team are approachable and can provide assistance to home buyers who are often inundated with misinformation about the financial picture and mortgage options. In an automated culture reliant on digital communication, it’s time to put the human element back into these conversations. He could never be behind the scenes.
Today, Dan likes working with first time home buyers to help them through the often intimidating process of buying a home. In just the time he’s been with Prime Mortgage Lending, Inc., Dan has been able to work with a number of diverse products including USDA, FHA, and VA loans. This has given him great insight very quickly about the best ways to work with homebuyers.ern Appalachian city.