I recently received two inquiries regarding preparation of short sale HUDs. They wanted to know whether I charged a fee in connection with working up and preparing the HUD. The answer is NO. While we know that not all short sales are approved, we still have to try. The realtors involved with a short sale spend a great deal of time pulling together the contract.  The closing attorney is a critical part of a realtor’s team and must spend whatever time is necessary to quickly prepare the short sale HUD. At times, failing to timely prepare a short sale HUD can be the difference between getting the deal done or missing the boat.

The bottom line is you MUST have a closing attorney that understands the time-sensitive nature of preparing an accurate short sale HUD.  Other than closings actually happening in the office that day, preparing short sale HUDs are one of our top priorities each and every day. If you would like to discuss in more detail how my office handles the preparation of short sale HUDs, please call me on my cell (912-484-1996) anytime or by email – jgerber@brannenlaw.com

You can find Joel on Google+ | Facebook | Linkedin

Topic: “What You Should Expect from Your Closing Attorney”

Speaker: Joel Gerber – Brannen, Searcy & Smith, LLP

Sponsored by: Bank of America – George Evans – Mortgage Loan Officer

Date: Wednesday, August 21, 2013

Networking & Lunch: 12:00pm

Speaker: 12:30pm

Location: Savannah Area Realtors – 7015 Hodgson Memorial Drive

In order to give our sponsor an accurate count, please RSVP for lunch no later than Monday, August 19, 2013. This is an SAR member benefit – No Charge to attend for SAR members.
Due to Educational Requirements, NO CE Credit is given for Lunch & Learn sessions.
To RSVP, please contact Lori at loriv@savannahboardofrealtors.com.
For more information visit the SABOR website.

You can find Joel on Google+ | Facebook | Linkedin

Did you know that in most instances if a non-Georgia resident seller has more than a $20,000.00 gain on the sale of his/her real property in Georgia, that the closing attorney (on behalf of the buyer) is required to withhold three percent (3%) of the realized gain (that amount is subtracted from the seller’s proceeds). That withheld amount is then sent in by the closing attorney to the Georgia Department of Revenue (in some instances the seller can get the amount withheld back from the GA DOR).

For those of you who bought a primary residence in 2012 at a price lower than the 2012 tax assessed value, you should see a reduction in your home’s tax assessed value for 2013. This year (around June), you should receive a valuation notice from the county tax assessor showing that the 2013 tax assessed value of your home is now the purchase price. After you receive the valuation notice showing your home’s new assessed value is now the purchase price, you likely should go ahead and file your Homestead Exemption (which is a small tax break).