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During the closing, the attorney will explain the closing documents to the buyer and seller and answer any questions. All closing funds are collected by and disbursed from the attorney's trust account. After the closing, the attorney records both the deed conveying the property and the lender's security deed.

The steps to closing on a house using a mortgage Purchase agreement acceptance. Optional buyer home inspection. Loan origination. Lender home appraisal and credit underwriting. Loan Approval. Homeowner and title insurance. Closing disclosures.

Who Typically Pays Closing Costs in Georgia? Both the buyer and the seller have to pay just one part of closing costs. The buyer closing costs are generally between 2% and 5% of the sale, while the seller typically pays between 5% and 10% of the home's sale price for the closing costs.

Do you need a lawyer to sell your house in Georgia? Yes. Georgia state law mandates that an attorney must be physically present at closings. However, it's important to note that this lawyer does not represent you in the transaction; he or she is working on behalf of the buyer's lender.

How Much are Seller Closing Costs in Georgia? While the taxes, fees, lender charges and insurance all add up, luckily neither the buyer or seller pays 100% of all the closing costs. Typically, the seller will pay between 5% to 9% of the sales price and the buyer will pay between 3% to 4% in closing costs.

Agency Disclosure (§ 520-1-. 06(4)(b)) ? No standardized form. Georgia law demands that licensees describe to both buyers and sellers the relationship established upon accepting representation by an agent.