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Title & Escrow Explained for Chattanooga & North Georgia Closings
It's the big day: you'll sit down with the title or escrow company, sign your paperwork, and take ownership of your new home. Closing costs and procedures can feel confusing, especially since customs differ a bit between Tennessee and Georgia — Sabrena will make sure you know exactly what to expect based on where your property is located.
What Happens at Closing
You and the seller will each pay "closing costs" — an accumulation of separate charges for the professional services involved in the sale, such as the title company, appraiser, and lender. In Georgia, state law requires an attorney to conduct the closing; in Tennessee, closings are more commonly handled through a title company. Either way, you'll receive an itemized breakdown of charges before you sign.
Q: What services am I paying for with closing costs?
A: Typically real estate commissions, appraisal and loan fees, escrow charges, prepaid property taxes and homeowner's insurance, title insurance premiums, and pest inspections, among other line items.
Q: How much should I expect to pay in closing costs?
A: The amount varies by transaction, but you'll receive a good-faith estimate after submitting your loan application, and an itemized final list before you close.
Q: Can I pay my closing costs in installments?
A: No — closing costs are due at closing. The title or escrow company disburses funds to all parties at that time, so payment in full is required upfront.
Q: What form of payment do I need for closing costs?
A: Typically a cashier's check from a bank in your home state, made payable to the title company or escrow office. Personal checks — especially out-of-state ones — can delay or complicate closing.
Q: Is closing different in Georgia than in Tennessee?
A: Yes, in some respects — Georgia requires an attorney to handle the closing, while Tennessee typically uses a title company. If you're buying or selling near the state line, Sabrena will help make sure you know which process applies to you.
Ready to Talk?
Call or text Sabrena Smedley at 423-432-4115, or reach the office at 855-261-2233. You can also email sabrena@sabrenasells.com or visit sabrenasells.com to get started.