• The Cuyler Firm

Why Are Attorneys Needed at Real Estate Closings?

Updated: Nov 16, 2019

Every state has its own laws regarding real estate transactions. One issue that may vary from state to state is whether or not an attorney is required to be present at closing. In the state of Georgia, each and every real estate closing must be conducted by a Georgia real estate attorney. This attorney must always be physically present at the closing, and must maintain control of the closing process from beginning to end. Before the closing, the attorney ensures that all legal requirements are satisfied by both the buyer and the seller.


Prepare for Closings: Title Records & Title Insurance

A clear property title is essential for the buyer and lender in a real estate closing. During the real estate closing, the attorney will study the title records. Unpaid mortgages, liens, prior conveyances, and easements will be identified and dealt with before the transaction occurs. The closing attorney will also verify that the seller can legally transfer the deed of the property. If any claims of ownership, liens, or easements create issues, the attorney may work with insurance firms to protect the property from division. For the sake of the buyer, we will evaluate the restrictions, encroachments, easements, and whether the title clearly allows the seller to transfer it to the buyer. Any concerns about the status of the title are addressed during this process.


Title insurance is important because if there is a problem with the title in the future, it protects the buyer and the lender. After the title examination, the attorney writes an opinion about the title for the title company so they can issue a title binder, which is necessary for obtaining title insurance. Title insurance is important for the lender because they must assure that it is in the first lien position of the property, but it is optional for the buyer. However, it is best to go through with title insurance, given that it is relatively inexpensive and protects the buyer’s rights to the property.


Coordinating the Closings

The real estate closing attorney also coordinates all of the parties involved in the closing. This means that the attorney must communicate with the buyer, seller, and lender, and any additional potentially necessary parties, such as brokers, surveyors, the homeowner’s insurance company, home inspectors, contractors, homeowners’ associations, and more. The closing attorney is responsible for preparing the settlement statement and confirming the final closing dates and amounts of money needed.


The Day of Closing

The day of closing, the real estate closing attorney must be present to go over the various documents. The closing attorney can offer explanations for any confusing documents, such as the deed, settlement statement, and loan documentation. Once all documents are explained and signed by all necessary parties, the closing attorney must close the transaction and distribute all the funds. After reviewing all the documents, the real estate closing attorney will make a final review of the title and deed, then issue the final opinion on the title and pay the title company. The closing attorney will then distribute all of the funds in the transaction, such as brokerage fees, county taxes, homeowner’s insurance premiums, inspection fees, seller’s proceeds, and the attorney fees.


Let the Cuyler Firm Help!

The Cuyler Firm is more than ready to assist with your real estate closing - as we are well versed to manage all the above tasks to make your closing go smoothly.




#realestatelaw #realestateclosingsGeorgia

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