March 2018

Found 3 blog entries for March 2018.

You would think that once a buyer and seller have agreed on the price and terms of the sale of a home that the hard part would be over. This is not always the case. Home inspections if not handled correctly can sometimes cause more anxiety than negotiating the price and terms of the home. Knowing a few simple guidelines will help in working through inspection issues.

Inspection Period aka Due Diligence Period

In Georgia, this period is usually called the Due Diligence Period. It is during this time, which is agreed to by both buyer and seller, that the buyer has the right at their own expense to inspect the property for defects. The most common types of inspections are Home Inspections, Termite Inspections, Radon Inspections, Septic System

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As the day of closing approaches keep in mind that all parties have items to address right up to the date of closing.  This includes Buyers and Sellers as well as their agents, the lender, and the closing attorney. 

On The Sellers Side

  • Bring your driver’s license to closing.
  • Any and all title issues must be cleared by the closing attorney.
  • If signing as a Power of Attorney the original document must be present at closing.
  • All agreed upon repairs must be completed, and paid invoices generally provided to the Buyer’s agent.
  • All personal belongings must be removed from the home and yard.
  • The home must be left clean; this includes all appliances, carpets, floors, bathrooms and attics or basements.
  • Utilities must be disconnected
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Closing Cost and Transaction Fees

One of the many challenges faced by both Buyers and Sellers in today market place is the increasing cost associated with purchasing a home.  With increased demands on virtually all players in the real estate transaction, cost continues to rise.  Appraisals have gone up, the cost of title insurance has increased, the effects of (TILA RESPA Integrated Disclosure (TRID) are putting increasing demands on lenders and law firms resulting in increased labor and expenses, all of which are affecting the closing cost associated with purchasing a home. 

Closing costs or Transaction cost generally fall into several categories:  Loan Origination Cost, Attorney Fees & Government Recording Fees, Inspection Fees and Escrow

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