Like many others, North Carolina is an “attorney state,” requiring all real estate closings involve an attorney.

Recording Fees

North Carolina assesses a uniform recording fee statewide, although that fee can vary depending on the type of document (mortgage, deed) as well as by the number of pages in the document. There is also no cost to file certain documents, including satisfaction, lien releases or mortgage releases (satisfaction of mortgage).

Transfer Taxes and Title Insurance

While transfer taxes are generally the same in most of the state, six counties do vary.

North Carolina is one state in which title insurance rates are promulgated (regulated). In this case, the North Carolina Title Insurance Rating Bureau is responsible for setting the cost. Of note is that Closing Protection Letters (CPL) are based upon the amount of the policy.

North Carolina is also home to a policy commitment fee, which is $15 for every real estate transaction (not just purchase mortgages). On occasion, that fee is bundled into the title policy premium.

Finally, in North Carolina, ALTA endorsements 5.1, 8.1 and 9 are customarily used as well.