Real Estate Terms

Big Changes with Georgia Association of Realtors’ (GAR) Purchase and Sale Agreement – What it means for you

First to the bottom line before the Heery boys get all wonky – Earnest money amounts are going up! A major change in how the contract is written is going to push sellers to ask buyers to have “more skin in the game.” This change may also be accompanied by increasing interest in leaseback period after closing. We are not a fan of sellers living in the houses after closing, but this may also result.

Recent case law which strikes … Read more


Should I file for homestead exemption this year?

 

what-is-a-homestead-exemption

In Georgia, homeowners are entitled to a homestead exemption on the house they live in as their primary residence.  If you’ve just moved to a new home, and live in it on January 1 of this year, you will need to file for your homestead exemption.  The forms and information on where and when to file can be found on the county website links below.

 

Fulton County Information & Forms

Cobb County Information & Forms

Dekalb County Information

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The Trust Machine and Real Estate – Bitcoin and Houses

There has been a huge surge in Bitcoin prices. On October 31, 2015, the Economist published a compelling article title “The Trust Machine”.  The article explains how bitcoin and the underlying blockchain technology has promise. A lack of trust in worldwide governments and regulation will add fire to the spread of blockchains (and thus bitcoin).

Here are some fascinating charts. First is an ETF (Exchange Traded Fund) by the name of The Bitcoin Investment Trust. Look at the change in … Read more


Protect Yourself !

From what? Well, everything of course. We love attorneys. When you list a property, buy a property or build a house, the agreements reference these intriguing forms courtesy of the Georgia Association of Realtors and the EPA. Here they are for your careful review:

 

Protect Yourself When Selling a House (Copyright 2015 by Georgia Association of Realtors, Inc., Form B1)

Protect Yourself When Buying a House (Copyright 2015 by Georgia Association of Realtors, Inc., Form B2)

Protect Yourself Read more


Faust on the Due Diligence Period – A Modern Parable on why this should be easy, but is not.

If you are buying or selling any real estate in Georgia (and most other states), due diligence will surely be a topic. Buyers and Sellers rarely agree on the intent of the due diligence period. Further, the intensive nature of people buying a home or selling their home seems to have trumped any customs around this important aspect of real estate contracts. Frankly, it is poorly defined in most contracts. In fact, in the standard Purchase and Sale Agreement from … Read more