Legal Question in Real Estate Law in Georgia

My cousin has agreed to sell us (myself, my wife, and my mother) a house. She wants to "be the bank" (we pay her the agreed monthly payments). We would take on repairs, taxes, and insurance. What forms are needed, and how do we complete the transaction with the County/State?


Asked on 1/19/17, 6:27 pm

2 Answers from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

It is likely to be a disaster to try Diy on what is a real estate closing. Do you know how to electronically file the Pt61. Can you calculate the transfer and intangible taxes? Can you decide if you should do joint tenancy or tenants in common? Can you draft all the following: warranty deed, deed to secure debt, note, sellers affidavit, termite defect and radon disclosures, closing statement, and amortization schedules? Are you allowing assumptions or adding a due on sales clause? What about title search? You need counsel.

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Answered on 1/19/17, 8:58 pm
Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

I certainly concur with Mr. Ashman. There aren't just a bunch of forms. Retain an attorney to complete the transaction.

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Answered on 1/20/17, 6:33 am


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