Buyers Prep Page

What to expect when buying and closing on your home in Georgia:

The closing process for buying a home in Georgia can seem complex, but breaking it down into manageable steps can help. Here’s a concise overview of what to expect:

1. Signing the Contract

• You and the seller will sign a purchase and sale contract, detailing the purchase price, earnest money, closing date, and any contingencies (like inspections).

2. Due Diligence Period

• Typically lasting 10-14 days, this period allows you to conduct inspections and assess the property for any issues that might influence your decision.

3. Property Appraisal

• If financing, your lender will require an appraisal to confirm the home’s value aligns with the purchase price, which is essential for securing your mortgage.

4. Title Search and Insurance

• A title search ensures the seller legally owns the property and that there are no liens. It’s wise to purchase title insurance for added protection against future disputes.

5. Closing Day

• On closing day, you’ll meet with your closing attorney to sign various documents, including:
  • Closing Disclosure: Details loan terms and closing costs.
  • Mortgage Note: Your commitment to repay the loan.
  • Deed of Trust: Secures the mortgage.
  • Deed: Transfers ownership to you.

6. Handling Funds

• You’ll need to settle your down payment and closing costs, often by wiring funds to the closing attorney’s trust account or bringing a cashier’s check.

7. Final Walk-Through

• Before closing, conduct a final walk-through to ensure the property is in the agreed-upon condition.

8. Receiving Keys

• After signing all documents and transferring funds, you’ll receive the keys to your new home!

Tips for a Smooth Closing

• Review Documents Early: Familiarize yourself with the closing documents ahead of time.
• Communicate: Keep in touch with your real estate agent and attorney throughout the process.
• Ask Questions: Don’t hesitate to seek clarification on any documents you’re signing.

While the process can feel overwhelming, being well-prepared and informed will help you navigate it successfully. If you have any specific questions or need more details, just let us know!