Jason B. Lingerfelt, Attorney at Law – North Georgia Real Estate Closing Attorney – "A Realtor's Friend"

Why do we need a Closing Attorney?

The law in Georgia requires all transactions that involve real property to be handled by an
Attorney. We, as the attorney, will prepare many of the important documents related to
the purchase, or refinance, of your home. Even though the attorney at the table represents
the Lender, unless it is a cash closing, the attorney must explain the documents and
the legal ramifications of signing the documents. The attorney will be responsible for
insuring that you buy a home with a clean and clear title in your name, with no liens or
taxes owed from the past.

Can I write a check to the attorney for my closing costs?

Yes and no. We as a Law Firm require any amount over $5,000.00 be wired into our
Escrow Trust account. We also require certified funds for any amount over $1,000.00.
You will usually be able to write a personal check for any small difference under
$1,000.00 that arises at the closing table.

When will I get my original deed?

We will send the original deed within a day, or two, of your closing to the Clerk of Court
for recording. It usually takes approximately 8 weeks to record the deed and return it
to you the Buyer. We will then send the original to you along with your owner’s title
insurance policy. But you legally own your new property on the day of closing.

Can I get a preliminary HUD?

Yes, but it is important to note that if you request a preliminary HUD, you understand
that all the fees are subject to change until you receive a final HUD. We make every
effort to get the final HUD out to all parties involved in the closing ahead of time, but
sometimes circumstances do not allow a final HUD prior to closing.

What documents should I bring with me to closing?

Please Click Link for information (link to Purchase/Buyer, Seller, and Refinance)

How much money should I bring to closing?

Your lender, broker, or agent can usually give you an estimated amount to bring to
closing and the preliminary HUD that we can provide will give you a good idea of the
amount you should bring. Without a final HUD you may want to obtain funds in excess
of what you are expecting. We can refund the excess funds if necessary.

We as a Law Firm require any amount over $5,000.00 be wired into our Escrow Trust
account. We also require certified funds for any amount over $1,000.00. You will usually
be able to write a personal check for any small difference under $1,000.00 that arises at
the closing table. We will be able to provide you with the exact amount you should bring
to closing as soon as the final closing instructions have been received from your lender.
This will usually occur somewhere between 72 and 24 hours before the closing. Please
make your Cashier’s Check out to yourself, and you can endorse it to us at closing. If you
wish to wire your funds, please contact our office so that we may fax wiring instructions
to your bank.

Please also bring along your personal checkbook to cover any changes to the HUD-1 that
may occur at the closing table.

What is Title Insurance?

Title Insurance is a form of coverage you can purchase at the closing to protect you in the
event that any unforeseen title claims are made at a later date against your property. If a
claim arises, the title insurance company is there to cover you from any financial loss that
occurs, up to the amount of the policy.

Should I purchase Owners Title Insurance?

Our Law Firm recommends that buyers purchase owner’s title insurance. An owner’s
title insurance policy protects the property owner against loss due to title defects and
claims against their property due to unforeseen or undisclosed issues. While our firm
will do a professional third party title examination to assure “good title”, there are
many undetectable title issues that can cause financial loss and headache. Owner’s title
insurance is a buyer’s option, but most real estate professionals will recommend this one-
time premium, it’s relatively cheap, and it lasts you for as long as you own the property.

If you would like to know how much a policy will cost, please contact our office, and we
will be happy to calculate the fee for you. Owners’ Title Insurance is optional and if you
wish to refuse coverage, we can remove the fee from your charges.

What is the difference in owner’s and lender’s title insurance?

When a person is borrowing money the lender will require that closing costs include
a lender’s title insurance policy, it’s a policy that protects the lender’s interest in the
property. The lender’s title insurance policy does not protect the borrower if there is a
title issue