The terms Closing Attorney, Settlement Attorney, and title company are often used interchangeably to convey the same thing. An attorney that helps close real estate transactions. At The Allen Law Group, P.C., our goal is to ultimately help clients achieve their goals. We don’t think of ourselves as just contract reviewers, title producers, or paper pushers. Even though we technically perform those functions. We add value by helping our clients achieve their goals of closing on real estate transactions. Whether you are buying or selling real property, we help you achieve your goals. The services we provide vary depending on what you need to get done and whether or not there is a lender involved in the transaction. In Georgia, the buyer usually has the right to choose the closing attorney.
In Georgia, the closing attorney’s office performs such duties as order title reports, review the title, provide title binders, and issue title insurance, among other duties. The easiest way to explain the importance of these services is to explain what transferring a clear title to real estate means. It simply means the right to claim ownership of property free from any preexisting encumbrances. Believe it or not, property is sold every day by people who do not have the right to transfer or claim ownership of what they are selling. A title examination and title review need to be conducted to make sure that you are purchasing what you are selling. As thorough as we are, a title examination cannot guarantee with 100% accuracy that title to a property is clear. That’s where title insurance comes in. With title insurance, the insurer promises to fix any title defects that resurface after a title examination.
In GA, the closing attorney represents the lender in a transaction. The lender always receives lender’s title insurance. We highly encourage all buyers to protect their interest in the property by purchasing owner’s title insurance. Please contact our office if you need us to fully explain the difference in coverage between lender’s and owner’s title insurance.
When you pay your property taxes or go through a foreclosure, there may be situations where the amount paid exceeds the actual tax or foreclosure payoff liability. This can happen when the bid to purchase your taxes or home exceeds what is due. In such cases, the excess funds are held by the county, city, or foreclosure attorney until demand is made for the return of the overage funds. Our law firm assists homeowners in identifying and claiming these excess funds.