In Georgia, both the Buyer and Seller go to the title company on the day of Closing. The Closing documents are signed, the money is transferred to the title company, who in turn pays the Seller. The real estate is then transferred to the new owner. All this happens while sitting at the "Closing table".
Georgia is a "good funds state." This means the buyer shows up with certified funds from the bank. If the buyer is getting financing, the lender wires the funds to the title company that day, hopefully prior to closing. Once the money has arrived, the closing can occur. If the money doesn't arrive, there is no closing. It is unusual that that would happen, but if it does the closing is usually rescheduled to the next business day.
The Walk Through
Often times sellers are so focused on packing and moving out, they forget the contract provides the Buyers to do a "walk through" of the property prior to closing. If your Buyers want to do this, you are obliged to allow them to do so. The Buyers will want to confirm you have in fact completed any inspection repair requests and to ensure the property is in good order. If you in the middle of packing boxes to move, the Buyer's timing of the walk through may not be during the optimum time. Not to worry, the Buyer's will understand and won't mind the boxes as they conduct their walk through.
Diane Kelly -- Keller Williams Realty -
North Atlanta Direct: 678.907.9155 --
5780 Windward Parkway - Suite 100 - Alpharetta, GA 30005-2021
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