I’m Not Your Attorney or Accountant, I’m Your Real Estate Agent!

During the real estate process, I get asked all kinds of questions. Some of them relate to real estate, but others don’t.

“Can I write off my marketing fees and closing costs on my taxes?”

“How much will my credit score drop when I do a short sale?”

“Can the Lender come after me for the difference of the balance of my loan if my home is foreclosed on?”

I'm Not Your Attorney or your Accountant, I'm Your Real Estate AgentThose are NOT real estate questions, as much as they may sound like it. They are related to the sale of your home, but they require a different interpretation! And a professional, based on what the question is about…be it a legal matter or a tax matter.

Also, you should not rely on information from someone that is not in the same state you are (especially for legal questions) as laws vary from state to state. Take a look at this question that appeared on a national real estate website today…. the question is asked about real estate in Georgia. The owner lives in California. The person answering the question is from…..NEW HAMPSHIRE!!!

And just as I went to get the question and the answer, the person has removed the discussion! How funny. It was a question about being foreclosed on in Georgia and the HOA still going after delinquent dues. The person from New Hampshire said they have to go to court. Now that may be true for the HOA fees, but not for the foreclosure, and the answer was not really clear.

Here in Georgia, you don’t go to court for foreclosure…we are a non-judicial state. At the closing and purchase of your home or condo, you sign a document that gives the lender the power to take your property if you do not pay your mortgage. We often joke at the closing table that this is referred to the “You don’t Pay, You don’t Stay” clause of your mortgage. They can send you notice, then publish notice in the ocal paper that serves as public record for 4 weeks, and sell you home on the courthouse steps.

Moral to the story…get professional advise from the RIGHT professional in the RIGHT state!

Thom Abbott

I'm a real estate broker living and selling the Midtown Atlanta lifestyle. From high rise condominiums to historic homes, I enjoy everything Midtown Atlanta has to offer. I'll help you find the right home in Midtown Atlanta or any of the other exciting Intown Atlanta communities that border the Midtown Area!

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Comments

  1. I hear you loud and clear on the questions posted AND answered on the national real estate websites. So many agents talk out of school, aren’t licensed in the state where they are offering answers and I just decided, rather then get annoyed with it all, just not to go on those sites. Like turning the TV off. You have always impressed me as a very ethical and honest agent. You don’t make things up as you go along.
    Carla Muss-Jacobs recently posted..Home Buyer Guide to Portland Real Estate Part II: The Down Payment

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