1.
Who pays closing costs?
It
‘s negotiable, but it depends on a many factors, including:
market conditions, your offer price and terms of the contract.
2.
How soon do I need to apply for a loan once the contract
is accepted?
Usually
the Contract will specify a time. Example... Purchaser agrees
to make loan application within 5 days of an accepted offer
to purchase.
3.
How soon do I need to apply for a loan once the contract
is accepted?
Within
3-5 days of the acceptance date.
4.
How much earnest money should I submit with the offer?
Approximately
1-2% of the purchase price.
5.
When can we close on the home we are purchasing?
Generally,
25-60 days after acceptance of the offer.
6.
Should I get the property inspected?
Yes,
we highly recommend it!
7.
What if something turns up during the inspection?
You
have the right to negotiate the repair or remedy, or withdraw
the contract.
8.
What’s a closing?
The
closing is conducted by an attorney who transfers title
from seller to buyer. You will have an opportunity to discuss
all aspects of the closing in detail before the event.
9.
What do I need to bring?
Here's
what you'll need:
- A picture I.D for each purchaser.
- Receipt
for the first year's premium of a Home Owner's Insurance
policy.
- Additional documentation the lender may require, such
as proof of sale of an existing residence, deposit verifications,
proof of sale of a car, copies of tax returns.
- Certified funds for money due at closing, in accordance
with Georgia law and the law firm's policy. The closing
attorney will advise the amount.
Your
attorney will receive the loan package from the Lender in
time to provide you with figures prior to closing. The figures
are on a Settlement Statement (HUD-1). In the event your
figures change before the actual closing, the attorney will
probably accept a personal check for the difference at the
closing table. |
