Home Buyer FAQs: What You Need to Know About Closing Day

man with key closing on houseClosing day is an exciting moment for home buyers; after all, it’s when you officially receive the keys to your new home! However it can also be a source of worry, especially for first time home buyers who are unfamiliar with the process. To help you head into your closing with confidence, we have gathered some answers to common closing questions, with the help of real estate lawyer Scott Mills, Esq.

Must I use a closing attorney?

In short, yes. It is legally required to use a closing attorney in the state of Georgia because transferring a title is considered to be practicing law.

How long does it take to close on a house?

In cases where there are no problems with the title, you should be able to close within a week. However, the actual closing usually takes no longer than an hour.

Will I be able to read all of the closing documents before signing them?

Yes, if you request that your lender provides you with the closing documents ahead of time. Sometimes you will need to ask repeatedly for the lender to do so. Once they are provided to the lawyer the buyer and seller can review them.

What happens if I don’t bring the right amount of money to the closing?

If you end up bringing too much money to your closing, the closing attorney will write you a check for the difference. If you bring too little money, most attorneys will accept a personal check for the difference; however the maximum amount accepted by check can vary from lawyer to lawyer according to their risk tolerance. Erring on the side of too much is better than not enough.

Whether you are a first time home buyer or a seasoned pro, having an experienced real estate agent on your side can make the home buying process smooth and stress-free. The Wolfert & Wrenn Real Estate Team with Keller Williams is here to help you with all of your Marietta real estate needs, so contact us today!

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