You Are Under Contract – What’s Next?

Thanks for choosing us as your Closing Attorney and adding us to the team of great people working to help you become a homeowner. All your work with your Realtor, and Lender comes together at the closing with The Gilroy Firm. 

The Gilroy Firm Closing Department

The Gilroy Firm will reach out to you via email to introduce ourselves and communicate throughout the closing process with close simple technology. Feel free to opt in for text message updates too.

4 Step E-mail Communication:

  • Welcome and Checklist
  • Update on Title Work
  • Closing Scheduled
  • Confirm the Closing

If you have questions please feel free to contact the closing department.

Documents & Forms

In our first email you’ll be asked to complete forms and send us copies of documents as we address title issues. Promptly returning items to requestors avoids delays in the closing process:

Keep Your Documents Handy

You may receive duplicate requests for a document or information from your Realtor, Lender, and Attorney. Each is a separate entity and their systems are not connected. The Gilroy Firm recommends that you keep documents handy to be emailed as each party requests them.

Wire Fraud

Wire Fraud The Gilroy Firm will not change our bank information prior to your closing. Please contact us, and your bank, if you have any questions about wiring funds and watch this video from The American Land Title Association.

Why do I need Owners’ Title Insurance?

Buy Land they’re not making anymore. – Mark Twain. Why do I need Owners’ Title Insurance? We strongly recommend buying enhanced Owners’ Title Insurance.

What do the Realtor, Closing Attorney, and Lender do?

For videos and more about the home closing process we encourage you to visit our webpage for first time buyers.

Frequently Asked Questions

What information do you need from me to start the process?

We will send you the forms needed in our initial email to you or visit our Buyers & Sellers section of our blog for buyer and seller information sheets.

What do I need to bring to closing?

We will send you a closing checklist in our initial email to you or visit our Buyers & Sellers section of our blog for closing checklists.

I need Wire Instructions to wire money to you, how can I obtain them?

Wire instructions will be provided to you with the initial contact email from The Gilroy Firm, however you may contact the closing department and they will gladly deliver wire instructions to you.

How can I find out how much the Title Insurance will be?

Please feel free to contact us and we’re happy to help you calculate this for your property.

Who will be handling my file – how will I know who to call?

Every file we close is handled by one of our experienced principal contacts. They will introduce themselves to you through email once your file has been established with our firm. You are welcome to call or email your designated principal contact should you have any questions at all. We are here for you.

How are Buyers or Sellers bringing money to closing required to deliver funds to The Gilroy Firm?

PURSUANT TO O.C.G.A. §44-14-13, WE WILL ACCEPT ONLY WIRED FUNDS FOR AMOUNTS OVER $5,000 WHICH ARE DUE AT CLOSING FROM BUYERS. WE ARE NO LONGER ABLE TO ACCEPT CERTIFIED OR CASHIERS CHECKS. ALL FUNDS DUE FROM SELLERS MUST BE WIRED. We accept personal checks up to $3,000.00.  Our escrow account is blocked from Automated Clearing House (“ACH”) transfers due to the rules governing these transfers, and any funds delivered to us via ACH will be returned by our bank without being posted to our account.  principal contact(ii) Parties bringing funds to closing are encouraged to bring a personal check with them in the event there are small amounts owed due to last minute changes which are not covered by the funds delivered.

If I am bringing a cashier’s check, to whom should it be payable?

You can have the cashier’s check made payable to: The Gilroy Firm

What are the most common pitfalls that make closings fail at the last minute or be delayed?
  • Buyer does not wire funds in time for closing (initiating a wire at the closing table is not the same as the funds being here – wires can sometimes take an entire day to be delivered to escrow).
  • Seller has failed to perform required repairs to the property.
  • Seller did not provide proof of termite bond and transferability, if required by contract.
  • Seller delay in providing payoff information to principal contact.
  • Last minute requests for power of attorney or mail outs.
  • Home Warranty was not ordered, if doing so is required by contract.
  • Borrower has failed to provide Lender with requested information in a timely manner.
  • Lender’s funds delayed.
  • Parties have wrong time or date for closing.
If I am not going to be present for closing, may I have someone sign as my attorney in fact or may I have the documents mailed to me?

It is always our first choice to have all parties incidental to the sale of real estate present at the closing. However, if that is not possible and circumstances permit, you may also consider coming in to do an “early signing.” There is no extra fee for this service. You simply would schedule a time to sign your paperwork in advance of the actual closing, if your paperwork can be made available. The documents are then held in escrow until the actual closing date.

In the event this will not work for your circumstance, you may assign an attorney in fact to sign the documents on your behalf. As there are tax implications and private information within many of the documents you will be signing, you will want to carefully consider the person you choose to be your attorney in fact. The key is that you let your principal contact with The Gilroy Firm know as soon as possible. Power of Attorney documents for the sale of real estate are governed by Georgia law and we are required to prepare the Power of Attorney. There is typically a charge for this service. The document must be signed by you, witnessed and notarized. We will also require a copy of your photo identification and the original Power of Attorney document prior to closing. If there is a lender involved and you are a borrower, the lender will need to approve whether a Power of Attorney may be used well in advance of closing.

“A mail out” is a circumstance in which we mail you all of the Seller or Buyer documents for signature outside of our office. The documents may be explained over the phone by one of our attorneys. There is considerable preparation that goes into sending such packages, so that they will be easy for you to know where to sign and understand what you are signing. There is a fee for this service. You will also need to enlist the services of notary public and a second, unrelated witness at your location when you are ready to sign. As with Powers of Attorney, we will need advance notice in order to accommodate these requests.

You Are Under Contract – What’s Next?

yc_01_small_02

What Do The Title Attorney, Realtor, And Lender Do?

yc_02_small_02

Why Do I Need Owners’ Title Insurance

yc_03_small