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Step 5: Closing on Your Home Sale Georgia

The following real estate tips contain all the information you need to know about closing on your home sale. Read on for simple yet effective selling ideas for yourGeorgia home.

Local Companies

Capitol City Bank & Trust Company
(404) 752-6067
562 Lee St SW
Atlanta, GA

A & C Mortgage LLC
(678) 822-0400
3042 Oakcliff Rd
Atlanta, GA

AAA Direct Mortgage
(770) 448-7796
3955 Pleasantdale Rd
Atlanta, GA

Cummings Mortgage Co.
706-295-7165
111 Bridgepoint Plaza Ste 302
Rome, GA

Countrywide Mortgage Corporation
770-414-6600
100 Colony Square, 1175 Peachtree St.
Atlanta, GA

Novation Mortgage
678-698-3557
2501 E. Piedmont Road
Marietta, GA

Option 1 Finanical
678-232-0828
2380 Buford Dr Suite 106-328
Lawrenceville, GA

1st American Capital LLC
(404) 588-5500
191 Peachtree St Ne
Atlanta, GA

American Equity Mortgage
770-955-5700
200 Galleria Pkwy SE
Atlanta, GA

Allied Home Mortgage Capital Corp.
770-939-7075
2179 Northlake Pkwy
Tucker, GA

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Prior to most home closings, there are contingencies that must be met and paperwork that has to be taken care of.

Contingencies

A contingency allows the buyer to back out of a contract if certain conditions are not met within a certain period of time. Some of the most common contingencies include the following:

Inspection – Almost all home contracts have a contingency requiring the home to satisfactorily pass inspections. The buyer pays an inspector to examine the home and find any potential problems. The buyer and seller then agree on what has to be fixed and when. This must be done prior to closing.

Financing – Usually, home sale contracts also have a contingency involving financing. The buyer must be able to get the mortgage specified in the contract. If this cannot happen, the contract is void.

Appraisal – Many buyers make a contingency that the home must appraise for at least the selling price. Since the financing is dependent on this, it is important. Either the buyer or your REALTOR® will arrange for the appraisal.

Once all the contingencies are met, the sale can go forward. Your REALTOR® will draw up all the closing documentation, including the settlement statement or HUD-1. This lists out all the costs of the sale to the buyer and the seller. Read over the settlement statement carefully to make sure everything in the contract is indeed reflected in the actual sale. If the document is correct, all that’s left is to sign the paperwork and hand over the keys to the new owner.

Published on January 15, 2007

Read full article at realestate.com

Featured Local Company

Capitol City Bank & Trust Company

(404) 752-6067
562 Lee St SW
Atlanta, GA

Read more about Step 5: Closing on Your Home Sale

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- Buying your first home Georgia
- How to Resolve Disputes with Your Home Builder Georgia
- For Sale By Owner Georgia
- Step 10: Closing Georgia
- In today's market, home buyers can negotiate winning deals Georgia
- How to Sell a Home Without a Real Estate Agent Georgia
- Step 6: Making an Offer Georgia
- Moving? Time your sale to avoid extra financing charges Georgia
- Step 4: Reviewing and Negotiating Home Sale Offers Georgia

Regional Articles

- Step 10: Closing Georgia

In order to complete your home sale, you will need to go through a closing procedure.

- Step 6: Making an Offer Georgia
- How to Sell a Home Without a Real Estate Agent Georgia
- Moving? Time your sale to avoid extra financing charges Georgia
- Step 4: Reviewing and Negotiating Home Sale Offers Georgia
- Step 8: Locking in Your Rate and Points Georgia
- Buying your first home Georgia
- For Sale By Owner Georgia
- How to Resolve Disputes with Your Home Builder Georgia
- In today's market, home buyers can negotiate winning deals Georgia

Related Local Event

2Nd Annual Real Estate Industry Day
Dates: 9/18/2009 - 9/18/2009
Location: Holiday Inn Decatur
Decatur, GA
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Advertising	Family	Home Services	Real Estate Resources
Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
Career	Financial Services	Insurance	Software
Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History