This is not a bad question, and one I’m often asked! Purchasing a home or condominium will be one of the largest investments you make in your lifetime, and you want to know things are being done right.
Who Does The Closing Attorney Represent?
This is the perfect time to point out that real estate is local! How things are done in say California does not mean how they are done in Georgia! Your real estate agent may have covered this part of the home buying process with you, but in Georgia, the closing attorney represents the lender who is giving you the mortgage! On closing day, your lender sends a “package” to the closing attorney which is basically the instructions and documents the lender wants you to sign in reference to y0ur mortgage. If I’m representing you as the Buyer, I will be with you at closing in case there are any questions, but the documents you are asked to sign are required by your lender.
Now, this stack of paper can be rather intimidating! The closing attorney SHOULD briefly explain what each document is as you sign them. You will not have seen most of these prior to closing. If you DO want to read them in advance, this is an important conversation for you and I to have with your chosen lender. Many times, the loan package is not delivered to the attorney until 24 hours before the closing. The attorney needs to know you want to review the documents BEFORE closing so they can have them prepared and emailed to you in advance. This takes some coordination between the lender, myself as your agent and the closing attorney!
By the time you have reached the closing table in Georgia, an attorney is not really necessary to represent you. And while the Georgia Purchase and Sale Agreement has been carefully drafted to protect BOTH the Buyer and the Seller, that may be the time you would want to consult with an attorney. If you have any concerns about the process, just ask me and if it’s not something I’m knowledgeable about, then we can determine the professional (attorney, accountant or other) that you need to talk with!
The Closing Day is an exciting one! It should not be stressful and is the start of a new chapter of your life in your new home!
