If you are selling a house, it will help you find the right price for your property without narrowing your profit margins. That being said, it is crucial to develop an understanding of closing costs before you begin a real estate transaction. Not recording the sale can be a gateway to legal liabilities in the future. It is charged by state and/or local government agencies to register the real estate sale, making it a matter of public record. To understand this better, let’s consider recording fee. Without these, they may not approve the loan.Ĭlosing costs are also important to transfer the ownership of the house from the seller to the buyer. For instance, mortgage lenders in Georgia typically require a home appraisal report and home inspection reports to determine the net worth of the property, the loan amount and calculate the risk involved. Paying closing costs is important to finalize the real estate transaction. To be specific, who pays closing costs in GA, and how much are they? Why are Closing Costs Important? The sheer amount of paperwork involved in the process can make you feel flustered and overwhelmed, especially if you are buying or selling a house for the first time.Ī rookie mistake that most first-time home buyers and home sellers make is not taking closing costs into consideration. Closing is the final stage of a real estate transaction.

Ga closing cost calculator