What Happens During a Closing on a House | What Happens During a Closing | Real Estate Closing

What Happens During a Closing on a House | What Happens During a Closing | Real Estate Closing
🏠Georgia Closings:
Shawn P. Horan
Horan Law Group, P.C
[e-mail]
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[@Urbanthick]

I absolutely love your questions and the clarity of how you break the information down. I thought only a husband and wife could do rights with survivorship so that was surprising to me. I have to watch from the beginning. Love what you are doing! Great job!!!!!!

[@ShaheedahHill]

Thank you Yes, very important for people who have children outside of their current marriage how that will be handled.

[@harlemworldking7942]

@@ShaheedahHill Great video..Strong an straight to point...if can 1day do vid on va home loan... Also i know someone pose to be geting mobile home.An the land had previous Old trailer on it,which gona get removed.... thanx...

[@CityOfChi]

I’ve used a lot of your videos to educate me throughout the home buying process, so I just wanted to give a heartfelt thank you for your time and energy. I close today, and I feel calm and ready because of you.! Thanks again :)

[@ShaheedahHill]

Congratulations and thank you for allowing me to come along on your home buying journey! Thanks for coming back to share your great news!!! 🏠🥰😊

[@aurareid5652]

Same here. I've also used some of her expert guests during this process 😊

[@chelladevonwrites3505]

Shaheedah you are getting me thru my home buying process with my nerves (mostly) in tact! Thank you so much for all that you do.

[@ShaheedahHill]

Thank you for watching and congrats. It can be stressful but worth it. 🙂

[@ClemsonTiger1908]

I've been watching your videos for over a year and my closing is scheduled in two weeks! As I first-time homebuyer I feel so educated and knowledgeable when I walk into things and hear a semi-new term/phrase - I just think "Yup, I learned that from Shaheedah!" I've also been able to ask informed questions like "Is this a par rate?" I had one sneaky lender try to get over on me by only disclosing the cost for points AFTER I asked directly (I did get three lender quotes like you recommended). You have definitely helped me feel CONFIDENT IN CLOSING that I am not being taken advantage of as a novice homebuyer. I can't say enough how much you have taught me. Thank you so much for all your help!!

[@ShaheedahHill]

Thanks for so much for the feeback and the update. Congratulations on your new home!!!

[@honeydipsunshine]

I just started my journey to homeownership. Your videos are super helpful!

[@sherribooker3111]

Thanks Shaheedah and Shawn!

[@Louisiana2Texas]

Thank you for this video! Constantly, gaining knowledge 😌

[@FaithJourney989]

Wow, so well and completely explained, especially for a newbie to home purchasing like me. This is incredibly helpful. Thanks so much for this!

[@erickr9187]

This information is invaluable! I’m trying to educate myself as much as possible as my husband and I are looking into buying our first home. Thank you so much!

[@chilove9955]

Thanks for these videos!!!!

[@missjones8123]

Another very informative video thank you so much rewatch alot of ur videos because its alot to take on all at one and every time I do I found something I missed Thank you so much for ur videos they are super helpful

[@ShaheedahHill]

Thank you for watching again and I appreciate the feedback!

[@geekgirrrl]

See that person should have watched your videos and avoid all the crazy. I am very happy to be apart of your KZbin community and look forward to my 1st home. I have shared your page with folks who are looking in GA.

[@ShaheedahHill]

Thanks!!

[@sottomomof4710]

Your videos are the best!! Thank you!☺️

[@ShaheedahHill]

You are so welcome!

[@s.j.5850]

Great information. Your closing attorney presented a wealth of information. He clarified everything I read in home buying books. It would seem that every part of the home buying process comes with a bunch of details that the realtor is familiar with, but the buyer is not aware of. Thank you for simplifying the process!

[@ShaheedahHill]

Thanks for watching

[@lakishaburroughs7966]

Very , very good and informative straight to the point video ! The best thus far. 🥰

[@ShaheedahHill]

Thank you!

[@LidMdo]

wow, I love your channel. Very interesting and helpful. Love it

[@ShaheedahHill]

Thank you so much for watching and leaving feedback!

[@fadekemio7165]

great info! thank you.

[@ShaheedahHill]

Glad it was helpful!

[@mericiagill6585]

So informative thank you !!!

[@ShaheedahHill]

Glad it was helpful!

[@prettynatural1973]

Thanks for sharing.

[@ShaheedahHill]

Thanks for watching!

[@nestleclose]

Shaderdah I am looking to buy a home and am so glad I stumbled across your channel. I am learning so much. Have always been afraid to even consider buying a home and now that I am retired want to leave apartment living and invest in my own. Getting educated on the process has been a big help. Thanks!

[@ShaheedahHill]

Welcome! So glad you found me, it is definitely something you can do!

[@kingq2389]

This video was very helpful. I appreciate your videos and the time you take to explain processes. I was wondering do you have info or could you do a video on FHA 403k loans. Just like the process and how it works and the closings & insurances required. Thank you!

[@hallyjohns3013]

Excellent content and right on time!!!…..

[@ShaheedahHill]

Thanks for watching!

[@tata100ism]

Thank you for yet another helpful informational video! I'm really learning so much. I was wondering if you could possibly do a short video on rent to own houses explaining how it works, how to know if it's a scam or not and any pros & cons, etc.

[@ShaheedahHill]

Yes. I am not sure when but I will. I am trying to do videos per week so hopefully I can put that in soon.

[@c.h238h8]

I wish u was in new York. He knows his stuff. Thank my sister

[@christopherbellboy25252]

Excellent content! And guest!

[@ShaheedahHill]

Thanks for watching

[@lareeel2722]

Very Valuable information

[@ShaheedahHill]

Glad it was helpful!

[@lynmorand]

Shaheedah i love love your videos i watch everyday u have taught me alot i cant want to buy my first home next year. I watch your video and write down everything keep up the good work.

[@ShaheedahHill]

You are so welcome, thank you for watching!

[@Madison091000]

Your videos are always right on time! You’ve literally walked my husband and I through our home buying process lol. We close on June 30th so this was very informative. Also, is it possible for a lender to use the same credit score and report they pulled from a preapproval during closing? I had an old collection sold and placed on my credit again and it affected my score. But I reached out to my loan officer and she said the credit info they have is good for 90 days so I shouldn’t worry about it.

[@ShaheedahHill]

Thanks for watching! You should be good and good job keeping the lender informed. I am pretty sure they are allowed to pull it again, but look to the lender for guidance since he knows how they operate. They can also check employment up until closing, so if you have any employment changes say something, particularly in this environment when job are furloughing employees. Congratulations!!!

[@Madison091000]

The Real Realtor - Shaheedah Hill Real Estate thank you!

[@christopherbellboy25252]

Loved the story at the end 😂😂😂😂😂😂

[@kodiaghaegbuna272]

Thank you for this informative video. About to close.

[@ShaheedahHill]

Good luck and know your numbers! Congratulations on your new home!!!

[@sooutstanding31]

Damn was i your 20k subscriber? I just did it and now you're at 20k.

[@ShaheedahHill]

Thank you! This is really exciting 20K!

[@twerk5954]

Nobody talks about how expensive closing costs are. that's a bigger amount than your down payment

[@ShaheedahHill]

@twerk5954 Thank you for watching

[@va.henriquez6901]

I have to thank our host for facilitating a wonderful, focused, informative interview and covering the points he missed. So many people who won't or can't take time to do their research need this information. Keep teaching boss woman! I pity anyone who has to do business with Shawn...unless its putting money in their pockets too and...immediately. His connotations were definitely raising a red flag in my book. He should remember that he isn't the only game in town and lenders are starting to outweigh the borrowers in some parts.✊🏿✊🏾✊🏽✊🏼✊

[@ShaheedahHill]

Thanks for watching!

[@MaryMary-nj3zy]

What do you mean?, clarify

[@va.henriquez6901]

@@MaryMary-nj3zy You should watch the whole video. It's pretty hard to miss why I made my comment. On both ends. Just thank the host for making it worth watching.

[@mlfitness67]

What happens at closing ... you sign your life away with a smile

[@ywilliams1970]

Lol

[@kennethgray5447]

LOL!! Literally “Mort” is French for “Death”... Translation: In debt for life! We close on the sale of our house in 2 weeks. I’m not sure we will do another Mortgage. If so, it will be small to preserve some cash. Tough times are ahead!! Make wise decisions!

[@Simplycredit]

🔥🔥🔥

[@KapitalP73]

Man I wish you were here in Charlotte. This whole home buying endeavor has been a terror.

[@ShaheedahHill]

I'm sorry, it is definitely a seller's market in most places. Please be patient and it will work out either now or overtime.

[@GOVICGO]

Very informative thank you so much. How soon should the buyer wire funds to title company prior to closing.

[@ShaheedahHill]

Typically same day or 24 hours prior.

[@GOVICGO]

@@ShaheedahHill thank you..I'm scheduled to close on Thursday and have been watching your videos to make sure I have all my ducks lined up in a row!

[@nataleesimms]

I love your videos they are so informative. I have a question since Mr. Shawn only operates in Georgia, right? Can he referral a closing agent in Fayetteville, NC area? I've received a quote from an agency already, but I want to compare prices. I do like Mr. Shawn's pricing services. Thanks.

[@ShaheedahHill]

Perhaps he has a referral - you can email him. Also, ask your Realtor for more closing attorney recommendations and you can call the office to see what their fees are. Thanks for watching!

[@akuacosby97]

Is there any cost that do not apply to new builds or are they the same across the board? Thank you for this very informative video.

[@ShaheedahHill]

The closing costs are similar to a resale home.

[@candyr234]

I'm glad I came across your videos. Do you represent areas outside Atlanta, like Newton County, Walton or Gwinnett County areas? I live in Newton.

[@ShaheedahHill]

Yes, I do!

[@candyr234]

@@ShaheedahHill I might need to call and talk to you to help me prepare for the next steps!

[@francinewilliams1703]

If purchasing form a builder is it recommended to have: *Title Insurance *Real Estate Atty? *If there is a change in credit score (higher) before closing can that have an effect on your #’s or are you locked in regardless?

[@ShaheedahHill]

Yes, yes and if there is a negative change in credit score they can deny you loan approval. You financials need to be the same or better as when they initially pre-approved you.

[@francinewilliams1703]

The Real Realtor - Shaheedah Hill Real Estate Thank You! We will look into getting a closing Atty, Title Insurance . And our goal to to have our score increased by closing 😉

[@ro_monique_]

Great video! But so many ads :/

[@ElleBrOw]

No ads when u catch it live.

[@IsthisY]

I'm new to your channel and not sure if you touched on this in any of your videos. Can you do a video or include seller rent-backs after closing?

[@ShaheedahHill]

Please clarify do you mean the seller stays in the home for a period after closing?

[@IsthisY]

The Real Realtor - Shaheedah Hill Real Estate Yes, I have heard that particular situations happens from time to time. Maybe the seller's new residence is not ready and they decide to add the rent-back stipulation to the contract. Do you have to accept? Would it be best to enter into a renting lease to cover your need home? I'm just trying to get more information on home buying in general. Side note have you closed any sells with VA loans and can you go over that process?

[@Super123At]

Do you need title insurance if you are buying a new construction home?

[@ShaheedahHill]

Yes I still recommend, just in case there were title issues with acquiring the land for the most part.

[@yolonda7486]

How do you find this type of attorney??? These videos are so helpful

[@ShaheedahHill]

He is real estate attorney that specializes in closings. Our brokerage has several preferred attorneys and most brokerages do, so I would ask a real estate agent what attorneys they recommend.

[@ShaheedahHill]

Thanks for watching

[@jaymilah2497]

If its a new build new construction.. do i still need Title Insurance for myself? Thanks in advance and im really enjoying your informational videos as a first time buyere

[@ShaheedahHill]

It is still recommended for you to get it, the lender is going to have you buy it to protect their interests, so protect yours as well. I answered this question in a little more detail on my last livestream. Thanks for watching

[@jeyashankarmurugesh3560]

Hi do we need a title insurance for a new construction

[@ShaheedahHill]

Yes, I still recommend it. You never know if the land the home was build on will have title issues. There is a big case that an entire subdivision was build on land that was not properly sold by heirs. I always recommend that my clients get it. Compared to the cost of your home, the titile insurance is a small cost for protection. www.inman.com/2015/06/04/is-a-title-insurance-policy-on-a-newly-constructed-home-really-necessary/

[@yvonneshaffer4291]

Can I buy a house by myself, if I’m married but have been separated over ten years.

[@MARGARITA072057]

Sheds I'm closing next week but they asking for s much money than I expected

[@ShaheedahHill]

Have your lender review the closing disclosure with you in detail.

[@saraA16161]

Is it better to get title insurance through your lawyer or through title company ? Is there a distinct difference in either method?

[@ShaheedahHill]

The lawyer is going through a title company for the insurance, they do not sell it directly.

[@saraA16161]

@@ShaheedahHill got it :). thank you so much .

[@vbryant1228]

If the closing attorney represents the lender, why does the buyer choose the closing attorney?

[@ShaheedahHill]

Because the buyer chose their lender.

[@kitana31]

Does that 3 days for disclosure prior to closing includes weekends?

[@ShaheedahHill]

For Closing Disclosures, a business day is defined as all calendar days except Sundays and the Federal public holidays The Closing Disclosure must be provided to you at least 3 business days PRIOR to loan consummation. And it is days and not hours. 3 full days.

[@wallacesmith7852]

Hi Mrs Hill, I have a question bc I’m new at this but I’m a retired veteran and I’m a 100% disable and a first time home buyer would I be exempted from paying property state taxes for the state of GA.

[@ShaheedahHill]

Hi and thank you for your service, it most counties yes you would be exempt. But check with that county's tax commissioners or assesors office to be sure.

[@wallacesmith7852]

The Real Realtor - Shaheedah Hill Real Estate ok thank you.

[@jamamabrown2414]

​@Shaheedah Hill I am closing on my first time home this this Thursday with 6.25 interest rate and 16k at closing cost with conventional loan. My credit score is 745 and I did two quotes..is this all worth it?

[@tomaitoe]

"I've done closings in jail" 😂😂😂

[@ShaheedahHill]

😂

[@lovingivyfarm4931]

Is there an option if someone is buying from out of state and cant travel multiple times?

[@ShaheedahHill]

I had a client move from California and she can 2x. She made the offer from my preview of the property, my video and online pictures. She came during the due diligence period to see in person and she came back for the closing. That may work for you.

[@laladeylaya6738]

OK so I’ll be getting a job offer by the end of the week a couple of them my job just told me I was terminated last week. The closing is in about two weeks. Once I get the offer I’ll tell them what happened they actually terminated me because I change my phone. What do I do The new job is in the same field with approximately $1.75 more per hour

[@ShaheedahHill]

Start the new job asap,tell them you need to start because you are about to buy a house, tell your agent so they can talk to your lender. If you are already through underwriting and did your verification they may not ask but they can call your job up until the day of closing to verify you are still employed.

[@nancyismyname]

Can I use my retirement savings to help with the 20% down payment on a co-op?

[@ShaheedahHill]

Usually you can, check with the account to see if there are any penalties for withdrawing for a house purchase.

[@MARGARITA072057]

Can I finance my closing costs?

[@ShaheedahHill]

Please watch my closing cost video, you can finance the 1.75% fee for FHA and if the seller raises the price you can get a higher seller contributions. But in general no you cannot.

[@Withalexandria]

Are you familiar with California real estate

[@ShaheedahHill]

Laws vary by state but closings are similar. I am only licensed in Georgia.

[@courtneywilson8258]

Do you need title insurance if the home is less than 3 years old and only one owner?

[@ShaheedahHill]

Its another level of protection and the lender will be getting a policy that you are paying for so buying a owner's policy at closing will be less expensive. I recommended it, also it covers who ever owned the land prior as well.

[@courtneywilson8258]

Got you so what about new construction?

[@courtneywilson8258]

What if it’s a new build. ? I’m the first owner.

[@bridget2369]

Is it best to get an attorney for buying your first home?

[@ShaheedahHill]

It depends on if you need one. Most people close without having their own attorney. States either require you to close with an attorney or a title company but they are representing the lender and not you. If you have a complicated transaction you may want to get you own attorney but typically it is not needed. New York and New Jersey do require an attorney review.

[@lynnmazon1654]

How much money do you have to have at closing?

[@ShaheedahHill]

Depends on loan type and price of home but estimate at least 3% of home price. So $100000 house - $3000.

[@fancyflower3298]

Can the lenders attorney also represent the buyers?

[@ShaheedahHill]

Typically they do not represent both sides. It really depends on the state. But if you want an attorney to represent you at closing you can get one, but the closing attorney usually represents the lender and the usually the buyer pays...but who pays can be negotiated.

[@fancyflower3298]

@@ShaheedahHill thank you for your response. I am in NYC and currently under contract my lender is also using the same lawyer.

[@ritastevenson7380]

I need your advice. I applied for a mortgage with Quicken loans today. My credit score is 720. I receive disability benefits and I do not have anything saved. I spent money cleaning my credit. After I did the things Quicken wanted they still would not give me a pre-approval letter. I don't think the loan officer even remembered our conversation. He said unless I had $6000. I would not receive that letter. What should I do?

[@ShaheedahHill]

Try another lender, you should get at least 3 quotes. If they are all saying basically the same thing then it is probably valid.

[@ritastevenson7380]

@@ShaheedahHill Thanks, I will do that.

[@yume816]

@@ritastevenson7380Homeownership can be expensive I.e unexpected repairs perhaps take the next 6 months to improve credit score and have some reserves for rainy days, look into NACA loans too... they will cover closing costs ... Perhaps by then this market won’t be so extreme.

[@1stnamebr406]

@@ritastevenson7380 Did you get pre-approved? How much is your disability?

[@ritastevenson7380]

@@1stnamebr406 I am a homeowner now. I did not go with Quicken loans my rep felt shady to me. I was approved for $120,000. I couldn't buy a house with that in VA. So, I tried to go back work for 3 months. You will not loss your disability while you are working. There is a program called trial to work through SSA. I got approved for $300,000. You sholuf apply to your state's downpayment assistance programs but be mindful of how much money you make because they wil add you disability and your projected income and you may not qualify because you make too much. That happen to me, they projected income that I had not made knowing I was on SSDI and may income could change.

[@hallyjohns3013]

If I want to Put my daughter on the deed do I do it at closing?

[@ShaheedahHill]

Watch this video about that - kzbin.info/www/bejne/lWObh2RultGJh7M

[@raykal1938]

why do none of these videos go over the actual documents that need to be signed at closing so frustrating

[@delaw2xoxo269]

I feel discouraged this is a lot of money

[@ShaheedahHill]

Don't be discouraged, just get a plan in place. Rent is also a lot of money. You can do this!

[@sherribooker3111]

Budget as much as you can to help with savings for closing and also seek out programs in your area that may help with closing cost.

[@lindaoliver7016]

Thank you 🙏, one thing I don’t mean to be disrespectful But when you have guests you talk over them Therefore the people that are watching the video cannot understand what’s being said so it’s just a little something that I thought I would point out is nothing trying to be mean or rude or anything it’s just we can’t change things if we don’t realize it thank you

[@ShaheedahHill]

Constructive criticism...is always welcome. Sometimes there is a delay on Zoom, so they are still talking and I think they are done. But I've learned to wait 🙂. Thanks

[@Nellopi22]

I believe she the host wanted to keep him on topic and simplify as the video is for 1st time homebuyers...possibly speed up his responses also.

[@RealEstatebuyNsell]

🤣🤣🤣🤣🤣🤣🤣🤣 he closed outside the office 😂😂😂

[@911heroesandme]

"I'd like to introduce you to one of my FAVORITE closing attorneys...Ummm....Shawn, hopefully I pronounced your name right."

[@ShaheedahHill]

😂I just call him Shawn, so I didn't want to mess up Horan since I rarely use it. Thank you for watching!