Everyone has heard of the real estate transaction that blows up at the closing table. The reasons vary widely, but in our office about 95% of all purchase transactions close. With purchases, both the buyer and the seller are typically very motivated to see the sale through, so problems that arise are taken care of, so the deal can go through.
Refinances don’t have that high a close rate – in our office refinances close about 90% of the time. This might be surprising, since a refinance only happens when the homeowner initiates it, but little problems that arise on the way to closing can derail a refinance. The homeowner may decide keeping the current loan is less trouble than dealing with the requirements for the refinance.
A refinance is much easier for the homeowner if the closing attorney will go to them for closing. Origin Title is happy to travel to homeowners in Metro Atlanta. Homeowners who are thinking of refinancing should seek out a closing attorney who will come to them.