A Look at the Day of Closing for Home Sellers and Home Buyers in Cherokee County, GA

Understand the key points of the closing process for your peace of mind.

Understand the key points of the closing process for your peace of mind.

Your Realtor in Woodstock, GA in Cherokee County has worked side-by-side with you and you have sold your home. The buyer has gotten a loan approved by the bank and it is now the Day of Closing. On the day of closing, everyone involved will officially seal the deal by signing all the necessary papers. The professional Realtor for both sides of the transaction (for the buyer and for the seller) will guide their clients through the process by ensuring that all the paperwork that had been accumulated during the buying process is available. The buyer will generally have the following:

  • Good-faith estimate,
  • Contract,
  • Proof of title search,
  • Insurance (if necessary),
  • Flood certification,
  • Proof of homeowners insurance,
  • Mortgage insurance,
  • Home appraisal, and
  • Inspection reports.

The buyer will be entitled to do a walk-through inspection of the property 24 hours before closing in order to ensure that the seller has vacated the property and left it in the condition specified in the sales contract.

 Who Will Be Present at Closing?

Closing procedures (as stated in realtor.com) can vary not only from state to state, but also from county to county. Generally speaking, the following parties will most likely be present at the closing or settlement meeting:

  • Closing agent (may be employed by lender or title company)
  • Attorney (both sides may have attorneys; it’s good to have an attorney present who represents you and only you)
  • Home seller
  • Seller’s real estate agent
  • Home buyer (also referred to as mortgagor)
  • Lender (also referred to as mortgagee)

The closing agent directs the settlement meeting and ensures that all documents are signed and recorded and that the closing fees and escrow payments are paid and distributed properly.

What Are the Closing Documents?

The process is much simpler for the seller. However, the buyer will receive the following important documents to review and sign:

  • HUD-1 settlement statement
  • Final TILA statement
  • Mortgage note
  • Mortgage or deed of trust
  • Certificate of occupancy

Once all the documents have been reviewed and signed by the appropriate parties, the house keys (and garage door openers, if applicable) are transferred to the buyer and the transaction has been successfully completed. Congratulations!

At The Premier Group  in Woodstock, GA, our experience ranges from consistently managing and closing shortsale and distressed properties to marketing and selling luxury homes. When you decide to sell your home or purchase a home, don’t hesitate to contact The Premier Group. We are dedicated to being the most qualified specialists that you can turn to for all of your real estate needs.

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