Buying Real Estate: When Does The Deed Record?

if this isn't the number one question i get asked in every closing it's got to be really close and that is when is the deed recorded i'm tiffany weber and i am a real estate lawyer in mooresville north carolina at thomas and weber subscribe to the channel so you can get more information just like this about the real estate closing process there are a lot of things that need to happen before the deed can be recorded and sometimes my paralegals get calls from sellers that say now you're not allowed to record this deed until i get paid well actually the opposite is true sellers can't get paid nobody can get paid until the deed is recorded and there's a lot of steps that have to happen before we can actually get the deed recorded at the register of deeds the first thing is the parties have to sign all of the necessary documents so if the buyer's getting a loan the loan paperwork has to be signed the seller's got to sign the deed and there are other documents that are required under the contract and then also all of the parties obligations under the contract have to be fulfilled so whenever you first go under contract to buy property there's a long list of seller obligations and then there's a list of buyer obligations those things all have to be satisfied usually they are before the parties even get to the settlement to sign the paperwork another thing that has to happen is that the parties have to sign the final settlement statement so sometimes when you have lenders involved or if there are invoices that need to be paid that haven't been disclosed to the closing attorney until last minute the settlement statement can be changing up until it's time to close so if there have been any changes to the settlement statement the final version has to be executed by both parties before the deed can be recorded also all the money necessary to fund the loan to be able to pay the seller the full purchase price and pay everyone that gets paid on the closing statement all of that money has to be in the lawyer's trust account before the deed can be recorded if not the deed can't record so buyers if you haven't sent your money your deed isn't getting recorded the lender hasn't set the money the deed isn't getting recorded so that's very critical and then the very last thing that happens before the deed is recorded is the title update so everyone's really antsy to get the deed recorded because that's when the seller gets paid that's when the realtor gets paid and that's when the buyer actually owns the house but all of the parties either don't know about or forget about this really important step that has to happen first so the title update is the process where someone from the closing attorney's office goes to the county whether that's electronically or in person and looks at the important records related to title to make sure there are no defects that have popped up between the time the title was searched and the time of closing so that means that the seller has perhaps put some had some liens put on the property or had a judgment against them and the time from when the title search was completed to when the title update is done that means that's going to have to be resolved before the deed is recorded another thing that we talk about with deed recording because people are very antsy to get it done is they say well why don't you just e-record it that way it'll be instant that is not true in north carolina the e-recording process while very efficient it is not necessarily faster than going in person depending on your county because the e-recording process is you submit the recorded documents and they end up in a line just like you would stand in a line in person so just because you upload the documents doesn't mean they'll be accepted doesn't mean they'll be recorded so you could be waiting two hours to get something e-recorded just like you would be waiting in line in person so at our office we always judge what's going to be fastest so if e-recording is going to take six hours because that county is very busy then we're going to try to get someone to go in person to do that more efficiently another thing people wonder is how will i know that the deed has been recorded well for one in our office we provide notification to the parties that the deed has been recorded but if you are savvy or you just really like looking up public records then you can go to the county register of deeds website and the county where your property is located and search for the names of the parties whenever the deed has been recorded there will be in most counties a line item showing the grantor the grantee so you'll get the notification from the closing attorney's office maybe from your realtor but if you don't want to wait for that notification and you just like hitting refresh on the internet then you can certainly look at the county's register of deeds website so that's a little bit more about deed recording when the deed gets recorded what has to happen first it's the most exciting part of the process because that's when the buyer really owns a house and that's when everybody else gets paid so i hope that answered your question and make sure to go watch the rest of the videos on our channel so you can learn more about the closing process [Music] you

Channel: The Real Estate Lawyer

Views: 1,457

Keywords: when is the deed recorded, real estate, deed, land records, real estate attorney, tax deeds, buying real estate, real estate investing, investing in real estate, buying a house, real estate investing for beginners, closing on a house, real estate closing, tiffany webber, the real estate lawyer, thomas and webber, understanding real estate, real estate definitions

Id: gAIDUPfRMQA

Length: 4min 50sec (290 seconds)

Published: Wed Dec 01 2021