who selects the closing attorney georgia

Can a real estate attorney be present at a Georgia closing?

So many times agents seem to think their seller can choose if they agree to pay some closing costs, but it's not the case. In many Georgia foreclosure sales the seller has their own attorney and tries to make the buyer use their closing attorney. I've had attorney offices argue with me about my buyer not being "allowed" to use their own attorney.

Who is the attorney who handles the real estate closing?

In Georgia, it is customary for the buyer of real estate to select the designated closing attorney. However, the seller may negotiate an arm's length choice, particularly when contributing to the buyer's closing costs. Working with a real estate agent?

Can I use my attorney of my choice when closing?

Jun 14, 2012 · As a Buyer, you have the preference to select your Closing Attorney in most cases. But when they prepare the closing documents, the are being done from a loan package that the lender has sent to the attorney. The Purchase and Sale Agreement we use in Georgia has been written by a lawyer, and reviewed by brokers as well.

Should I use a builder’s closing attorney?

Coats & Cordle, Attorneys at Law. Inc - Douglasville. Floyd County Paulding County. Talley, Richardson, & Cable, P.A. - Dallas. Bagby Law Office P.C. - Dallas . This page is for informational purposes only and is not an endorsement of any of these firms. The closing attorney is a choice left to the Buyer.

What is the job of a closing attorney in Georgia?

Amongst other things, it is the Georgia real estate closing attorney’s responsibility to: Ensure all documents are completed correctly. Ensure deeds, affidavits, and all other documents are delivered to the right people. Prepare the settlement or closing statement. Disburse money in terms of the closing statement.

Who does the closing attorney represent?

So even though the closing attorney represents the lender, he or she has a responsibility to complete the closing efficiently and accurately in the interests of all parties involved. Normally the closing attorney explains the contents of the documentation to the buyer and seller at the closing, before everything is signed and sealed.

What is the law that covers closings in Georgia?

The federal law that covers the closing is the Real Estate Settlement Procedures Act ( RESPA ), and this legislation applies in addition to the local Georgia real estate license law that the Georgia Real Estate Commission administrates.

What happens at closing of a real estate transaction?

At the end, the real estate closing will result in the property being transferred to the purchaser.

Who handles closings?

The attorney who handles the real estate closing represents the lender and not the buyer or the seller. While buyers and sellers often consult with a real estate attorney of their own, to do title searches, check documents (including the closing documents) or get advice, usually the closing attorney handles the closing alone, ...

Can a real estate attorney do a telephonic closing?

This was as a result of an attorney having participated in a real estate closing telephonically, which the Court found “ethically improper”. In some other states, only attorneys can give legal advice relating to the closing. Real estate attorneys must also draft all the legal documentation. But a “non-attorney” may handle the closing.

Does Georgia require a closing attorney to disburse money?

Disburse money in terms of the closing statement. Georgia law also requires the closing attorney to prepare a detailed statement that shows all disbursements and receipts from the buyer and the seller; and this must be given to both parties, and possibly the broker if there is one involved. So even though the closing attorney represents ...

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Who handles closing on a loan?

When there is a loan involved, the lender’s attorney must handle the closing. For this reason there will often be three real estate attorneys involved in the sale of property, one representing the buyer, another the seller, and the third representing the mortgage lender. So why is it advisable for both buyer and seller to have a real estate ...

Who does the closing of a mortgage?

And when the buyer needs to borrow money for a mortgage, the real estate attorney who does the closing doesn’t represent either the buyer or the seller, but rather the lender. While buyers and sellers of property are not legally obliged to use the services of a real estate attorney , it’s generally advisable to do so.

What is the most important disclosure in a house?

The most important disclosures relate to existing defects in the house that the seller knows about. Federal law also requires sellers to disclose the use of lead-based paint in the house. Once an offer has been made, the seller has the opportunity to accept or reject it, or to make a counteroffer and negotiate changes to the contract. ...

What is the final step in a real estate sale?

The final step of any real estate sale is the closing. This is when the seller gets paid and transfers title to the buyer. While some people are able to pay cash for a property, most need to raise a loan of some sort, most commonly a mortgage.

What is a real estate attorney?

Real Estate Attorney for the Buyer. Anyone wishing to purchase a property must do so in a valid contract that is structured properly in terms of the law. A real estate attorney will ensure that the offer made in an offer to purchase is drawn up correctly. If it isn’t, it cannot be enforceable in a court of law.

Can a real estate attorney represent a buyer?

When it comes to buying and selling property, a real estate attorney can either represent the buyer or the seller. One attorney cannot do both.

Is there a real estate law in Georgia?

While there are federal laws that govern the sale of real estate, in Georgia there are several state laws that also apply. These include: The Georgia Brokerage Relationships in Real Estate Transactions Act. Georgia Law for the Real Estate Sales Contract. This is another very good reason to use a real estate attorney when buying or selling property ...

Do you have to use a closing attorney when buying a home?

As a buyer you need to be aware that in some circumstances sellers will try to induce you to use their closing attorney. This happens often when buyers are purchasing a home from a builder. The builder or their lender will offer to pay a portion of your closing costs if you agree to use builder’s closing attorney.

Do you need to include an attorney in a closing?

You need to do this because in some closing transactions the buyer has to include their choice of attorney in the actual Offer to Purchase contract in order to have said attorney handle the closing for buyer.