If you're in the market to buy a home, you've likely heard of walk-throughs and home inspections. What you may not realize is that they're not the same. The purpose of a final walk-through is to allow you to confirm that the property is in the same condition now as when you last saw it. It also serves as an opportunity for you to request that the sellers make small repairs or modifications before the closing.
Homeowner's associations (HOAs) have become a significant part of communities and neighborhoods in Georgia and across the U.S. in the last 20 years. You're probably aware that you're subject to certain restrictions once you move into such a community as this. What you may not know, though, is that you may have to consult with your HOA board before you can list or finalize the sale of your home.
Delays to a property closing can happen for several reasons. There may be a defective title, causing the lender to request additional information. A home inspector may discover that there's been an infestation of pests and that repairs are needed. An appraisal may also come back that the house is valued at less than the original purchase price. This may impact a prospective homeowner's ability to qualify for the loan. These are just some of the reasons that home closings may be delayed.
If you've put in an offer on a Georgia home that's been accepted, then you may soon need to select an Augusta real estate attorney to handle your closing. That lawyer will be responsible for making sure that all documents are ready for and signed at the closing and that everything is properly filed with the local clerk of court. There are certain documents that you should expect to pass in front of you at the closing.
It's quite common for you to have to select an attorney and for them to set a closing date soon after you enter into an agreement to either purchase or sell your home. What you may not realize is that the date often changes between the time when it's originally set and it takes place. There are many reasons why a real estate closing may get delayed.
In Georgia, it's a requirement for all real estate closings to be presided over by an attorney. Your lawyer performs many of the same responsibilities that a title company in many other states may carry out. Attorneys can help both buyers and sellers in many ways that title companies never could though.
Whether you're a first-time homebuyer or you've purchased a home before, it's unlikely that you're asked to attend a real estate closing every day. It can always help you to have a reminder of what you need to bring with you to the closing, especially if you're the seller.
When you decide it's time to buy a home, you will probably be flush with emotions. You may be nervous about the amount of money you are committing and worried that something will be found in the inspection. Once all the worry subsides, it's time to move forward with the purchase of the home. So, what can you expect at closing? We will explore closing on a home in today's post.
Are you buying a home in Augusta, Georgia? If so, it's a good idea to have an experienced real estate attorney by your side during the closing. It might be an even better idea to have an attorney with you through the entire process of buying a home so you know what to look for and how to protect yourself as the buyer.
It's hard to keep up with the housing market in Georgia. Reality television shows about investors hurriedly buying, renovating and selling old housing stock in Atlanta and Savannah are evidence of how development is in the Peach State and has been for the last decade.