Also, if a spouse or other person is to be on the deed (even if they are not on the loan) they must attend closing. The same attorney may represent all parties involved in the transaction. Most closing attorneys in the US will charge hourly rates of between $150 and $350. While everyone has their own priorities when purchasing or selling a property, the process can be pretty complex for both parties, and it can be easy to get off track. If you would like to be a blogger for Lawrina, you can contact Sofi for all the details via email at [emailprotected], Join 20 000+ Lawrina subscribers to get essential legal tips. These costs typically come into play during thedue diligence period. What Does the Closing Attorney's Office Do? - jeffporterlaw.com Therefore, we promote stricteditorial integrity in each of our posts. In many ways, real estate attorneys serve as fact-checkers. Agents can often defer to an attorneys better judgment, concerning everything from initial contracts to the breakdown of final closing costs. As a general guide, buyers may be responsible for anywhere between 2% to 5% of the transaction costs. If you are buying a house and have gotten a loan for the purchase, you should be aware that the attorney who conducts the closing does not represent either you or the seller. service by maintaining contact with visitors of Our Site through Intercom chat. Rome Judicial Circuit. Georgia law requires a licensed attorney to close all real estate transactions. Copyright 2023 Klosinski Overstreet Powered by Klosinski Overstreet, Video Conference Closings During COVID-19, In-Person Signing Instructions During COVID-19, Make sure that affidavits, deeds, and all other required documents are delivered to the appropriate people, Prepare the closing statement or settlement, Ensure all documentation is completed accurately, Distribute funds pursuant to the closing statement. The attorney who directs the real estate closing process in Georgia represents the lender, not the buyer or seller. Buying or selling a home isnt always as straightforward as it seems. Want to Get Your Home or Condo Organized. Whether you will appear during the closing depends on the circumstances of the property sale. However, like most other fees you will pay, you can negotiate a reasonable price with the attorney. Remember that state laws can change from year to year.
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