Purchasing a home in North Carolina
North Carolina refinance

North Carolina real estate and title settlement attorney



North Carolina charges an excise tax of $2.00 per thousand of the sales price.  This tax is allowed to be paid by seller and is typically paid by seller, but the buyer must still negotiate with the seller so it is written accordingly in the contract.  The transferor (grantor, seller) buys the tax stamp from the Register Of Deeds of the county in which the land that is being sold lies.  1031 exchanges are not exempt.

There is also a land transfer tax of 1% of the sales price in addition to the above excise tax for all counties.  This is a state tax that is the sellers' responsibility to pay at closing.  A few coastal counties;  Camden, Chowan, Curritick, Dare, Pasquotank, Perquimans, and Washington have the authority to collect a higher tax when purchasing a home. 

 

Title Insurance premiums:
Lender's Policy                         $2.50 per thousand up to $100,000
                                                 $1.60 over $100,000

Owner's Policy                          same cost as Lender's above



Refinance- generally 30% reissue on Title premium based on what was paid in title insurance at previous settlement when less than 10 years ago.  You must have a hard copy of your Owner's Policy of Title Insurance to give to the settlement company to receive this discounted re-issue rate.  See refinance mistakes to avoid..




Typical settlement company will charge the following:
BUYER
Settlement                               
$200
Title Exam                                
$300
Title Binder                              
$125
Recording- Deed                      
$34
Recording- Mortgage               
$214
Survey (if needed)                   
$500- $800
Archive and FedEx                   
$28

North Carolina counties
Anson
 Gates  Pasquotank
Ashe
Graham  Pender
Avery  
 Granville Perquimans
Beaufort  
 Greene  Person
Bertie 
 Guilford  Pitt
Bladen
 Halifax   Polk
Brunswick  
 Harnett  Randolph
Buncombe
 Haywood   Richmond
Burke  
 Henderson  Robeson
Cabarrus  
 Hertford  Rockingham
Caldwell  
 Hoke  Rowan
Camden 
 Hyde   Rutherford
Carteret
 Iredell   Sampson
Caswell  
 Jackson Scotland
Catawba   
 Johnston  Stanley
Chatham   
 Jones Stokes
Cherokee   
 Lee    Surry
Chowan 
 Lenoir   Swain
Clay
 Lincoln  Transylvania
Cleveland  
 McDowell   Tyrrell
Columbus 
 Macon   Union
Craven  
 Madison Vance
Cumberland  
 Martin Wake
Currituck
 Mecklenburg Warren
Dare    
 Mitchell  Washington
Duplin   
 Montgomery Watauga
Durham   
 Moore    Wayne
Edgecombe   
 Nash     Wilkes
Forsyth  
 New Hanover Wilson
Franklin   
 Northampton Yadkin
Gaston  
 Onslow Yancey
  Orange  
  Pamlico  


SELLER
Settlement                               
$200
Document Preparation             
$200
Archive and FedEx                   
$15


REFINANCE
Settlement                               
$300
Title Update                             
$175
Title Binder                              
$125
Document Preparation              
$25 per release
Recording- mortgage               
$214
Survey (if needed)                   
$500-$800
Archive and FedEx                    $47

 

HOME EQUITY LOAN, SECOND TRUST
Settlement                               
$150
Title Update                             
$175
Title Binder                              
$125
Doc Prep                                   
$25 per release
Recording                                 
$34
Archive and FedEx                    
$32


North Carolina real estate and title settlement attorney
Jason Gold, Esq.
4505 Falls of Neuse, Suite 360
Raleigh, North Carolina 27609
919-872-1511

 

 

 

 

 

 

 

 

 

 

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