Closing information checklist buyers additional charges

1165 Northchase Pkwy SE #450
Marietta, GA 30067

O: 770-579-0109 F: 770-809-6334 info@shermanphalenlaw.com Monday-Friday: 9am-5pm

Buying or selling a home? Check out our digital and easy-to-use checklists for both buyers and sellers to help you prepare for closing day.

Buying or selling a home is a milestone event in anyone's life, but it can also be a complex and sometimes overwhelming process. One of the most crucial stages in this journey is the closing, where all the pieces of the puzzle finally come together, and ownership is officially transferred. To ensure a successful and hassle-free closing, Sherman & Phalen Real Estate Closing Attorneys have developed comprehensive digital checklists for both buyers and sellers.

These checklists provide a step-by-step guide to help you navigate the closing process smoothly and confidently. We have digital interactive versions of each of these checklists on our website, but here's an overview of both for your convenience.

Buyer Checklist

Prior to Closing

1. Consultation with Sherman & Phalen Team: Start your journey by scheduling a consultation with our experienced team. This is your opportunity to get answers to any questions you may have and gain a clear understanding of the process ahead.
2. Earnest Money Payment: If you're required to provide earnest money, visit our [Earnest Money Payment] page for detailed instructions on how to do so correctly.
3. Task Completion: Ensure that you complete all the necessary tasks outlined during your consultation. This may include document submissions and other essential actions.
4. Termite Inspection: Work with your real estate agent to arrange for a termite inspection on the property. This step ensures that you are fully informed about the property's condition.
5. Lender Requirements: Promptly comply with any requirements from your lender to avoid delays in the closing process. These requirements are critical to securing your financing.
6. Homeowners Insurance: Provide the required homeowners insurance information to your lender to ensure everything is in order before closing.
7. Survey (Optional): If you choose to order a survey, let us know, and we can provide recommendations for reliable surveyors.
8. Closing Schedule: Coordinate with our team to schedule your closing date. This step ensures that all parties involved are on the same page and ready for the big day.

Day of Closing

1. Photo Identification: Don't forget to bring a valid photo ID, such as a driver's license, state-issued identification card, or passport.
2. Homeowners Insurance Proof: Have proof of homeowners insurance coverage ready, including the amount due at closing or a receipt if prepaid.
3. Power of Attorney (If Applicable): If you have a pre-approved Power of Attorney, make sure to bring the original document to the closing.
4. Lender Documents: Complete any documents required by your lender as a condition for closing.
5. Certified Funds (If Applicable): If your closing costs exceed $5,000, be prepared to bring certified funds, such as a cashier's check made out to yourself.
6. Checkbook: It's a good idea to have your checkbook on hand, just in case the total balance due at closing changes or for optional owner's title insurance payment.

Seller Checklist

Prior to Closing

1. Consultation with Sherman & Phalen Team: Start by scheduling a consultation with our team. This is your opportunity to understand the closing process, provide necessary documents, and ensure a smooth transaction.
2. Task Completion: Complete all tasks and deliver all requested information that arises during the consultation process.
3. Closing Schedule: Coordinate with us to schedule your closing. Ensure that all parties involved are informed and ready.
4. Power of Attorney: If a Power of Attorney is needed, our team can prepare it for you.
5. Divorce or Deceased Parties: If any party on the title is going through a divorce or is deceased, contact our office promptly to provide the necessary documents.
6. Repair Invoices: If repair items need to be addressed, deliver the invoices to us as soon as possible.
7. Mortgage Payments: Cancel any automatic debit payments for your mortgage, ensuring they won't continue after the closing.

Day of Closing

1. Photo Identification: Bring a valid photo ID, such as a driver’s license, state-issued identification card, or passport.
2. Funds Transfer: If you're required to bring money to closing, arrange for a wire transfer at least 24 hours in advance to ensure a seamless process.
3. Homeowners Insurance: Provide the declaration page A with a paid receipt or invoice indicating it will be paid at closing.
4. Power of Attorney (If Applicable): If you have a pre-approved Power of Attorney, ensure you have the original document with you.
5. Termite Inspection Report: Bring the original termite inspection report if it's applicable.
6. Keys and Security: Don't forget to bring the house keys, garage door opener controls, and security system codes as required.

How to Have a Stress Free Closing Day

Closing on a real estate transaction involves many moving parts, and it's essential to be well-prepared to ensure a seamless process. By following detailed checklists like these, buyers and sellers can approach their closing day with confidence and peace of mind, knowing that they have taken all the necessary steps for a successful real estate closing. Have a detailed and thorough game plan, timely communication between your lender and real estate agent is all key for stress-free closing.

At Sherman & Phalen law firm, we specializes in commercial and residential real estate closing and commercial. We are committed to guiding you through every stage of the process, making your real estate journey as smooth as possible, which is why we offer a variety of hands-on resources and tools to help prepare you for the purchase of a home or property. Our single point of contact and personal approach to real estate closing transactions help ensure your peace of mind.

If you have any questions or need further assistance, don't hesitate to reach out to our experienced team. Your dream home or successful property sale is just a checklist away!