What is the home closing process?

What is the house closing process?

How does a Georgia real estate closing work?

A closing is also referred to as a settlement or escrow. It is basically the exchange of money (purchase price) for title to the property (deed).

The first step in a closing is agreeing on the terms. This is done in writing and signed by all parties. Property is bought and sold with a purchase and sale agreement or real estate contract. This is usually prepared by a real estate agent or broker. It can also be prepared by a lawyer, buyer or seller.

After the agreement is written and signed — then the attorney, title and closing process starts.

Below is our five step Georgia closing process:

1
Order Opening
-review purchase contract
-start title search

 

2
Title Processing
-review title work
-order payoffs and demands

 

3
Closing Prep
-prepare closing documents
-schedule closing 

 

4

Closing Day
-execute documents
-disburse money

 

5
​Post Closing
-record deed and mortgage
-issue title insurance policy

 

We need a copy of the purchase contract to start your title work. If you need a purchase contract, an attorney can prepare one. Contact us today for a closing cost estimate.

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