Jason B. Lingerfelt, Attorney at Law – North Georgia Real Estate Closing Attorney – "A Realtor's Friend"
Buyer
Preparing for a Closing as a Purchaser
What Is a “Closing”?
A closing is the process by which title to the property is transferred from the seller to the purchaser and the buyer’s loan is finalized. This occurs once the loan is approved, title work is complete, and no problems prevent completion of the transaction.
What if You Can’t Attend the Closing and you’re on Title?
If you are unable to attend your closing, please call our office so that we may prepare a Specific Power of Attorney appointing another party as having power to execute documents on your behalf. There will be a nominal fee for the preparation and recording of this deed.
Information Required from You Prior to Closing:
In order to prepare our files and obtain your closing documents from the lender in advance, several items of information will be required from you before closing.
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The Sales Contract: Including any amendments to the contract.
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Hazard Insurance: Also known as Homeowners’ insurance.
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Survey: Lenders rarely require a purchaser to obtain a survey for closing, but it is always nice to know what you are purchasing.
A Check-list for Closing:
The following is a list of items you should bring to closing:
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.
Information Required by your Lender
Among other things, it is not uncommon that the lender requests a borrower to bring copies of past tax documents. If your lender does so, you must bring these items to the closing or else the lender will refuse to fund your loan. If you have recently sold a home prior to your purchase, it is likely your lender will require a copy of the settlement statement pertaining to that transaction. Please be sure to bring a copy to the closing.