Purchasing a home can be both exciting and nerve-wracking. For example, people are often nervous about the amount of money they are committing to a piece of property, and they sometimes worry that problems may be discovered during the home inspection. On the other hand, homebuyers often have big plans for their new homes, and they usually can’t wait to get the deal done in order to close on the property and move into their new home!
Getting to know the closing process
The closing process usually begins when a buyer and seller execute a purchase and sale agreement. A real estate contract typically contains:
- The price of the property
- The amount of earnest money, if any
- The closing date
- The seller’s contribution to closing costs
- Any contingencies
There are often quite a few different people present at a residential real estate closing, including:
- The buyer
- The seller
- The buyer’s real estate agent
- The seller’s real estate agent
- Closing Attorney
- A lender representative
Closing typically takes around one hour. There is an abundance of paperwork that must be signed at closing – most of which are included in the loan package from the buyer’s lender.
Contact Klosinski Overstreet today
If you are planning on purchasing or selling a new home in Georgia, you need an experienced and knowledgeable Georgia real estate attorney to assist you with the transaction. At Klosinski Overstreet, LLP, we will assist you with all legal aspects of your real estate transaction, including the closing process. Our experienced Georgia real estate attorneys have experience facilitating the purchase and sale of many types of properties, including single-family homes, condominiums, and commercial properties, and we will work diligently to ensure that your transaction is a success. Therefore, if you are planning on buying or selling a new home in the state of Georgia, please contact us as soon as possible for a free consultation regarding your upcoming real estate transaction.