In Georgia we are an attorney state and most of the time buyers and sellers sit down across a table with said attorney at the head and us agents crammed in the corner and documents are signed and loans are funded and the keys are slid across the table. Of course, there are exceptions.
Foreclosures are an exception for example. Sellers aren't at the closing table and require 48 or 72 hours to review documents before signing most of the time. Today we had one of those closings. I cannot be sure when the attorney sent the documents to the seller, but I can tell you that the buyer's agent was none too happy when we didn't give the buyers the keys.
But the fact is if the loan hasn't funded for ANY reason you're NOT getting the keys from us. If the funds are ready to mailed/wired to our seller you can have the keys. And while I am very sorry if it that seems inconvenient to you, but that's what happens when you pick an attorney that isn't savvy in dealing with asset management companies and a seller's attorney. It's not typical in our state for the seller to have their own attorney, but REO properties do things with a very similar process across state lines. That means it's a bit of an overkill here in Georgia where sellers are not required to have an attorney.
I would never advise a client to pass over the keys before funding. Don't get upset if your client doesn't get the keys from me before my clients gets the funds from the closing attorney.
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Tammy Lankford, Broker/Owner
Broker License # 169695 Lane Realty License # H-11420
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