Sellers Prep Page

What to expect when selling your home in Georgia:

The closing process for selling a home in Georgia involves several important steps. Here’s a breakdown of what to expect:

1. Signing the Contract

• The process begins when you and the buyer sign the final purchase and sale contract. This document outlines key terms such as the sale price, earnest money, closing date, and any contingencies (like inspections or financing) that need to be met.

2. Due Diligence Period

• After signing, the buyer typically enters a due diligence period (usually 10-14 days). During this time, they can conduct inspections and assess the property. As the seller, you may need to provide access for these inspections.

3. Property Appraisal

• If the buyer is financing the purchase, their lender will require an appraisal to ensure the home’s value aligns with the purchase price. This step is crucial for the buyer to secure their mortgage.

4. Title Search and Insurance

• A title search is conducted to confirm that you legally own the property and that there are no liens or claims against it. It’s advisable for the buyer to purchase title insurance to protect against any future disputes.

5. Closing Day

• On closing day, you’ll meet with the closing attorney (a requirement in Georgia) to finalize the sale. Key documents you’ll sign include:
  • Closing Disclosure: Details the terms of the sale and any closing costs.
  • Deed: Transfers ownership of the property to the buyer.
  • Affidavits and Declarations: Various statements confirming the accuracy of information provided during the sale.

6. Handling Funds

• You’ll need to settle financial transactions, which may include paying off any existing mortgages or liens on the property. The buyer will typically wire funds to the closing attorney’s trust account or provide a cashier’s check for the down payment and closing costs.

7. Final Walk-Through

• The buyer usually conducts a final walk-through of the property shortly before closing to ensure it’s in the agreed-upon condition. As the seller, be prepared to address any last-minute concerns.

8. Receiving Payment

• Once all documents are signed and funds are transferred, you’ll receive payment for the sale of your home. This is typically done via a wire transfer or a check from the closing attorney.

Tips for a Smooth Closing

• Stay Organized: Keep all necessary documents and information readily available.
• Communicate: Maintain open lines of communication with your real estate agent and attorney throughout the process.
• Be Prepared for Questions: Don’t hesitate to ask your attorney for clarifications on any documents you’re signing.

Selling a home in Georgia involves careful planning and understanding of the local market. By preparing your home, pricing it correctly, and working with professionals, you can navigate the selling process more effectively.