Georgia is an Attorney-Closing State
What is an "attorney-closing" state?
The textbook definition of an "attorney" is a person appointed to act for another in business or legal matters.
As such, the State of Georgia places a high value on the presence and participation of closing attorneys or agents in real estate transactions.
GA Senate Bill 365 prohibits anyone other than a lender or attorney licensed by the State Bar of Georgia from conducting real estate settlements and disbursing funds in residential purchase or refinance transactions. The attorney must be physically present at the closing, and he or she must maintain control of the closing process.
*If you are a licensed closing agent in or outside the state of GA seeking professional notary support, please contact us today.
What is a Settlement Agent?
Settlement agents, also known as closing agents, are third parties or intermediaries who helps a buyer and seller finalize real estate transactions through the conveyance or transfer of securities to the buyer and the transfer of compensation to the seller.
A settlement agent for real estate transactions can be an escrow officer, real estate attorney or title company representative that conducts the closing or "settlement" of a residential or commercial property purchase.
Other functions include coordinating the attendance and document signing services for all parties, and the verification that each side has performed their required responsibilities as outlined in the contract.