Who is generally responsible for paying the closing costs in a real estate transaction in Georgia?

In Georgia, it is a common practice for the closing costs in a real estate transaction to be shared between the buyer and the seller. This sharing of costs can vary depending on the negotiation between the two parties and the terms of the contract.

Typically, the buyer may be responsible for expenses such as loan origination fees, appraisal fees, and title insurance, while the seller might cover costs like the real estate commission and certain transfer taxes. However, many transactions also see sellers agreeing to assist with some of the buyer's closing costs as part of the negotiation to facilitate the sale.

This collaborative approach to closing costs reflects the realities of real estate transactions in Georgia, where flexibility and negotiation play crucial roles. Understanding this practice is vital for both buyers and sellers as they prepare for the financial aspects of closing a real estate deal.