Savannah

Non-Judicial

In a non-judicial foreclosure state, the lender does not need to go through the court system in order to foreclose on a property. This process can be quicker and less expensive for the lender compared to a judicial foreclosure.

Attorneys generally take care of closings. Conveyance is by warranty deed. Security deeds are the security instruments. Foreclosures are non-judicial and take little more than a month because there’s a power of attorney right in the security deed. Foreclosure advertising must appear for 4 consecutive weeks prior to the first Tuesday of the month; that’s when foreclosure sales take place. Georgians use ALTA title insurance policies, including owner’s and lender’s, and they use binders and endorsements. Buyers pay title insurance premiums and also closing costs usually. Sellers pay transfer taxes. Property tax payment dates vary across the state.

Payment dates vary across the state.

YES. Key components of property management (renting and leasing) are considered real estate activities under existing Georgia real estate licensing laws. According to Georgia rules, "property management services" mean: The provision, for valuable consideration, to another of marketing, including referring prospective tenants; leasing; physical, administrative, or financial maintenance; and overall management of real property; or supervision of the foregoing activities for another pursuant to a property management agreement. A real estate license is required to perform these services. A salesperson working under a broker may engage in such activities. Also, unlicensed employees of brokers may engage in limited activities, such as receiving lease applications, showing rental units, and menial tasks, as long as certain conditions are met.

YES. An exception is available to unlicensed full-time employees of property owners (who are also unlicensed) to perform real estate brokerage activity on property owned by the unlicensed employer. For more information about these and other Georgia property management requirements and exceptions, please contact the Georgia Real Estate Commission. Before hiring a property manager to manage your Georgia rental property, you should always check that he or she is licensed appropriately. You can check the license status of Georgia property managers at the Georgia Real Estate Commission's consumer information webpage.

Community association management in Georgia is an activity that must be done under a broker's license. In addition, the person doing the management must at least have a community association manager's license. "Community association management services" means: the provision, for compensation, of management of administrative services for the operation or affairs of a community association, including collecting, controlling or disbursing funds, obtaining insurance, arranging for and coordinating maintenance to the association property, and otherwise overseeing the day-to-day operations of the association. A community association manager is a person who acts on behalf of a real estate broker in providing only community association management services.

Community association management in Georgia is an activity that must be done under a broker's license. In addition, the person doing the management must at least have a community association manager's license. "Community association management services" means: the provision, for compensation, of management of administrative services for the operation or affairs of a community association, including collecting, controlling or disbursing funds, obtaining insurance, arranging for and coordinating maintenance to the association property, and otherwise overseeing the day-to-day operations of the association. A community association manager is a person who acts on behalf of a real estate broker in providing only community association management services.

Georgia real estate salesperson licensing requirements include: - Age: Must be at least 18 years old. However, applicants may take the examination at age 17 (license cannot be activated until 18 years old). - High School: Must be a high school graduate or equivalent. - Education: Must successfully complete 75-hour Salesperson Prelicense Course (or equivalent). In addition, salespersons must take a 25-hour postlicense course during their first year of being licensed. - Experience: There is no experience requirement. - Exam: Must pass the Salesperson's exam. The exam fee is $97. Must apply for the salespersons license within 12 months of taking the exam. - Fees: If applying for the salesperson's license within three months of taking the exam, the fee is $170. If applying between 3-12 months of taking the exam, the fee is $340.