Important info for home sellers in the Greater Atlanta area

What happens if/when a home seller lies on the seller’s disclosure? That’s a question no one wants to ask but on occasion, one that has to be explored. Georgia is a “buyer beware” state; home buyers are expected to complete all research during the due diligence period. That is the "option period" for the buyer, the time to do whatever research they deem important. Home sellers are legally obligated to disclose all known hidden defects. This is required even if buyers waive due diligence and inspections. Sellers are still obligated to be truthful.

There are more issues related to the seller's disclosure than any other part of the home selling process. It's not always drama; sometimes/many times it's simply the need for clarity. Something is/isn't…

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Buyers that allow sellers to rent back and remain in a home after closing often enjoy a significant advantage over the competition. But few buyers (or agents) fully understand what’s involved should home buyers allow sellers to rent back. This is not a decision to be taken lightly; if/when things go wrong the ramifications can be serious, especially to the buyer/now landlord. There are a number of legal and tax concerns that most fail to think about when in the heat of competition. A few obvious things to consider if a buyer is allowing a seller post closing occupancy – and this list is far from comprehensive.

Are Rent Backs Allowed?
Is a rent back noted in the contract? Is a copy given to the lender or is this done with a wink-wink? What will the…

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Home prices continue to push higher than any time in history; yet real estate appraisals continue to be a problem. Low appraisals despite record appreciation? How is this possible with next to no low inventory, ravenous buyers and bidding wars? As it was just over a decade ago, the disconnect between appraisers, agents and the public remains. This time the economic conditions are different and the public has more exposure to data but the appraisal process remains a mystery.

The Role of the Appraiser

The appraiser represents the buyer’s lender; they do not work for the buyer, the seller or any agent. Their job is to ensure that if the lender has to foreclose on the property, the amount they lent to the buyer can be recovered. Appraisers follow…

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That gorgeous big old spreading oak has been there a good hundred years, everyone loves it, now. But what happens if that tree becomes an issue among neighbors? When a storm sends half of it through the roof or winds blow it over? If a big limb falls and crushes a car or worse? Tree liability in Georgia can get tricky because the answer may not be so clear cut. Liability depends on three factors: (1) who owns the tree (2) why the tree fell and (3) whether the landowner knew or should have known that the tree was unsafe.

If a tree falls and the fall could not be foreseen by a “reasonable person,” the general rule in Georgia is that the tree owner is not negligent, and, therefore, is not liable for either property damage or injuries to someone. Cleanup…

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Some intelligent and otherwise very successful people do epically dumb things when it comes to buying and/or selling real estate. Failing to completely understand dual agency in Georgia and permitting it is at or near the top of the list. Simply put, dual agency is allowing the same agent to represent both buyer and seller in a real estate transaction. The agent or broker has a client relationship with all parties to the transaction without acting in a designated agency capacity. In these situations, neither party is exclusively represented by a designated real estate agent. Buyers want to pay as little as possible, sellers want the most possible. Consider the easy questions; how are appraisal and inspection issues resolved? How can one agent be an…

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The north Atlanta housing market is cooling just a bit, this is supported both anecdotally and by the data. The pent up buyer demand is being offset by increasing inventory. It's still a seller's market; but it seems to be slowly trending toward balance as the year unfolds. The challenge of "easy to sell, hard to buy" remains; after a year of updating and enhancing homes, owners seemed content to stay put. But some may be getting restless because inventory is growing. Homes under contract in many Atlanta markets have been in decline (nationally as well), buyer demand easing...increasing inventory...maybe a move toward balance?

Below we look at a couple of sample markets north of Atlanta; Cobb County and the combination of Cherokee and Forsyth Counties.…

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Pigs get fed and hogs get slaughtered. Not every home is going to attract viscous competition, even with historically low inventory. Buyers are willing to pay handsomely for renovated and well maintained homes, for homes in highly desirable settings, for high quality well-built homes and for homes that offer something unique that draws them. The idea that sellers can simply put a price on a home and buyers will jump isn’t reality. The media however, has sellers convinced it’s a “name your price” environment. It’s not. Sellers that accurately price their homes will do the best, not just with price but by controlling the transaction. Sink that hook deep, set the rules for the game and tilt the table. An accurately priced, well presented home will draw…

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Right now, early June 2021, home buyers around the northern Atlanta market have no hand. No hand, and for the vast majority, no chance. We’re on both sides of this market; the chasm between buyer and seller could not be wider. List price is often a suggestion and home buyers have to concede just about everything – immediately and without reservation. We’re seeing buyers move down to gain strength; 500K-600K buyers move to 400K-500K. This allows for higher offers and larger down payments. We look for very specific concessions and terms when representing sellers, fast and clean rule the day right now. These are 7 brutal truths buyers must consider…

Cash is King

Cash buyers move to the front of the line. Why would a seller deal with a buyer that may…

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Many homes in the greater Atlanta market built from the 80's to later 90's likely contain one or more components that owners or buyers should be very concerned with. Given the growth of the Atlanta area during that period, estimates are between 40%-50% of homes are impacted. One of the single most troublesome things was "Louisiana Pacific (LP) Inner Seal" siding; offspring of Georgia Pacific (GP) which was created back in the 70's. This siding is made from chips of wood glued together to make a building material commonly called OSB "oriented strand board". OSB is widely used as a substitute for plywood, mainly due to cost. Louisiana-Pacific used this OSB material, formed it into siding panels and lap siding and embossed it with a covering pattern that…

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Atlanta home buyers and sellers know the chess game that the '20-'21 real estate market has been and continues to be. The shortage of housing inventory around the greater Atlanta market is well known; there's no cavalry on the horizon. Buyers are bruised and beaten, just about all having lost more than once during multiple offer situations. The idea of offers over list moved from "only if we need to" to "how much over". Sellers should be loving it, but there's one catch; appraisals. If the appraisal comes in low, that big seller payday may not materialize. Sellers have to nail that back door shut and keep buyers from playing games.

Under List? Surely You Jest

Let's all acknowledge that the greater Atlanta real estate market (2021) is about as strong…

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