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Cell:678-907-7034
Ph:678-534-2718
Fax:678-935-0963
skype:homeexpogallery homeexpogallery
west.adriana@gmail.com
Keller Williams First Atlanta
200 Glenridge Point Pkwy
Suite 100
Atlanta, GA 30342
9866
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Adriana West (Keller Williams First Atlanta): Real Estate Agent in Roswell, GA
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Frequently Asked Questions about Real Estate in Georgia

How are Real Estate transactions closed in Georgia?

Closings are done by a Real Estate Attorney.  The attorney typically represents the lender (not the buyer or the seller).  If no lender is involved, the attorney is negotiated between the buyer and  the seller.  The closing attorney is a specialist who focuses strictly on the law surrounding the transfer of real property and the law governing lending money (Uniform Commercial Code).

What is Title Insurance?

The “ownership” of a property, which can also be the right to transfer title in a property, can become confused over time for a variety of reasons.  The vast majority of properties never have an issue, but liens, easments, and other issues can arise over time.  If they are not properly handled, it creates doubt around the title to the property.  Title insurance comes into play when such confusion is encountered and it turns out another entity can make a claim on the property.  Title insurance is intended to pay one or more parties to resolve issues surrounding ownership.  The lender always purchases title insurance.  The Seller no longer needs it.  The buyer may optionally purchase it in Georgia.  It is highly recommended in cases where the ownership of the property might ever come under suspicion (foreclosures, short sales, etc.) or if the buyer invests a high down payment on the property.

What is Property Insurance?

Just as the name implies, Property insurance protects the owner of the property from damage to the property.  Because the bank often owns the majority of the property (through the mortgage), they will require you to purchase it.  If they do not, it is often a wise investment in any case.  Property Insurance is also known as Homeowners insurance.

What is a Deed?

The deed is a legal document that describes the ownership of a property.  If there is a mortgage, in Georgia, the lender will have the deed to the property.  It is conveyed to the homeowner if the property is purchased in cash or the mortgage is paid in full.

What is a Survey?

A survey marks out the boundaries of a property.  Sometimes a lender will require a survey, and if they do not, the buyer can request one in the closing process.  If arranged in advance, the survey company can leave behind wooden or iron markers at all corners of the property.  This is particularly advisable if the buyer is going to build a fence or other structure close to the property line.

What is the Legal Description?

The Legal Description is a document registered with the county describing exactly and specifically where the property boundaries are and any legal obligations such as easements that might apply to the property.  This is part of the Deed, and necessary in order to transfer property in the State of Georgia.