Please read this letter carefully, sign where indicated, and return it to our office promptly.
Dear Client,
Thank you for engaging our office to assist with your real estate transaction. We look forward to working with you. Please review the following important information carefully.
PHOTO IDENTIFICATION REQUIRED
You must bring a valid, unexpired government-issued photo ID to closing. We cannot conduct a closing without proper identification.
Acceptable forms include:
- Driver’s license
- State-issued ID card
- Military ID
- Passport
- U.S. Permanent Resident Card
- Canadian driver’s license
For mail-away closings, a copy of valid photo ID must be returned with your executed documents.
IMPORTANT NOTICE REGARDING WIRE FRAUD
The North Carolina State Bar has warned attorneys of increased wire fraud targeting real estate transactions. Fraudsters may pose as your attorney, lender, or real estate agent and send false wire instructions.
To protect yourself:
- Whenever possible, pick-up wire instructions in person.
- If wire instructions are sent by email, you must call our office at (336) 609-6300 to verbally confirm the instructions before sending funds.
- Do not rely solely on email.
- We will never change wire instructions without direct verbal confirmation.
Failure to verify wiring instructions could result in permanent loss of funds.
MARITAL STATUS
If you are married or legally separated (but not divorced), your spouse’s signature may be required at closing — even if your spouse is not on the contract or loan.
If you are separated, divorced, or have a free trader agreement, please notify us immediately so we can determine signing requirements.
Unless we advise otherwise, assume your spouse must attend closing.
DUE DILIGENCE
If we receive your contract after the due diligence period has expired, we may recommend extending it. Title issues sometimes arise that could impact your decision to proceed.
CLOSING LOCATION AND FEES
Our office is located at:
1000 N. Elm Street, Greensboro, NC 27401
Our standard settlement fee begins at $900 and may vary depending on purchase price and transaction complexity. Please confirm fees with our office prior to closing.
TITLE SEARCH
Upon receipt of this signed engagement letter, we will assign the property for title examination.
- Title search fee starts at $200, depending on the complexity of the search
- Title searches may take 2–3 weeks
- This fee is separate from attorney/paralegal fees
- The title search fee is due even if the transaction does not close
Title matters may affect your decision to proceed with the transaction.
FAILURE TO CLOSE/ CLOSING DELAYS
If the transaction does not close through no fault of our office:
- Prior to document preparation: $175–$350 (based on work performed)
- After document preparation: up to $750
- Redraw fee (per loan package): $100
Additional fees may apply for:
- Mail-away closings
- Power of Attorney closings
- Relocation company sellers
DISENGAGEMENT
We reserve the right to withdraw representation in certain circumstances, including but not limited to:
- Failure to timely sign and return this engagement letter
- Disrespectful or hostile behavior toward staff
- Failure to disclose material information
- Withholding material information from your lender
- Refusal to follow legal advice
We will attempt to resolve concerns prior to disengagement when appropriate.
FUNDS DUE AT CLOSING
All funds due at closing must be in certified form (cashier’s check or wire). Personal checks are not accepted.
Certified checks must be payable to:
Adelia Schiffman Law Group, PLLC Trust Account
You will be notified of the required amount approximately 48 hours before closing.
ADDITIONAL EXPENSES / SHORTAGES
If post-closing shortages exceed $50, you agree to promptly remit payment.
If refunds under $75 are due, our office may retain them.
TAX PRORATIONS
Property taxes are estimated at closing. Final tax bills may differ.
Buyer and Seller agree to resolve any post-closing discrepancies directly and hold our office harmless. We will not cure any deficiencies for county taxes.
FINAL WATER ASSESSMENTS
The City of Greensboro ALWAYS has a final water bill reported after the closing. The City will put a lien on the property if it is not paid. It is the responsibility of the Seller to pay that water bill. Buyer and Seller agree to resolve any post-closing discrepancies directly and hold our office harmless. We will not cure any deficiencies for water assessments.
FINCEN REPORTING REQUIREMENTS
Federal regulations require reporting of certain cash transactions. If applicable, you may see a reporting fee (at a minimum $300) on your settlement statement.
We cannot close without required FinCEN information. Failure to provide accurate information may result in government penalties.
WHO WE REPRESENT
We represent you for purposes of ensuring you receive good and marketable title.
We also represent your lender in ensuring compliance with loan instructions. In the event of a dispute between you and the lender, we cannot represent either party against the other.
We do not negotiate loan terms on your behalf.
SERVICES PROVIDED
Our responsibilities include:
- Conducting the title examination
- Preparing and reviewing closing documents
- Receiving and disbursing funds
- Recording deed and deed of trust
- Issuing owner’s and lender’s title insurance policies
- Sending lien payoffs
We do not act as escrow agent for post-closing repairs.
TITLE INSURANCE & “TACKING”
If a prior title insurance policy exists, we may “tack” to that policy unless you object. This allows for a more efficient search and may reduce costs.
If you prefer a full 30-year search, notify us in writing.
SURVEY
Lenders typically do not require a new survey, but without one, your owner’s title policy will not cover certain survey-related matters.
If you wish to obtain a survey, you must contact a surveyor directly. Surveys should be completed before the end of the due diligence period.
DISBURSEMENT TIMING
Under North Carolina law, funds cannot be disbursed until recording is confirmed. You may not receive proceeds at the closing table.
ETHICAL REQUIREMENTS & LOAN FRAUD
You must ensure all representations in your loan documents are accurate. Misrepresenting occupancy, income, debts, or other material facts may constitute federal loan fraud.
INSURANCE & PAYOFF AUTHORIZATION
You must have homeowner’s insurance effective at closing.
If refinancing, by signing below, you authorize our office to obtain payoff information and cancel existing liens.
Please contact us with any questions. We appreciate the opportunity to assist you.
