Georgia

Georgia is an attorney-required state for residential closings, the closing must be conducted or supervised by a Georgia-licensed attorney. This is a Georgia Bar requirement (the unauthorized-practice-of-law restriction reaches real estate closings here in a way it doesn't in most states). The closing attorney typically represents the lender (in financed transactions) and acts as the neutral party for documents and funds, though buyer and seller may each retain their own attorney for representation.

Two state-level transaction taxes apply. The deed transfer tax is $1.00 per $1,000 of sale price (0.10%), customarily paid by the seller. The intangible recording tax is $3.00 per $1,000 of the loan amount (0.30%), customarily paid by the buyer, this is Georgia's mortgage tax, levied on the financing instrument. On a $400,000 home with a $320,000 loan, that's $400 deed tax + $960 intangibles tax = $1,360 total state-level transaction taxes.

What property taxes look like

Georgia property taxes are county-administered, with school districts typically the largest component. Effective rates vary by county and run from about 0.7% in some rural counties to over 1.5% in some Atlanta-metro counties.

The homestead exemption for primary residences provides a $2,000 reduction in assessed value at the state level, with most counties adding their own larger exemptions on top, Cobb and Gwinnett offer additional school-district exemptions, Fulton has its own structure, and DeKalb has its own. Some counties also have floating homestead exemptions that cap annual assessment growth. Filing is with the county tax commissioner; deadlines vary but are typically April 1 of the year following purchase.

What buyers should know

The standard Georgia residential purchase contract (the GAR form, published by the Georgia Association of Realtors) is widely used. Inspection ("due diligence") periods typically run 10–15 days. Earnest money is typically 1%–2% of purchase price.

The buyer's intangibles tax on a typical financed purchase is $3 per $1,000 of loan, small relative to the lender fees and title insurance, but often forgotten in initial closing-cost estimates. The closing attorney handles the calculation and filing.

Title insurance is not state-promulgated in Georgia; premiums vary by insurer. The buyer customarily pays for the lender's policy and the owner's policy, though the owner's policy is sometimes negotiated as a seller-paid item depending on local practice and the contract.

What sellers should know

The seller's share of state taxes is small (the 0.10% deed transfer tax). The dominant seller-side closing costs are agent commissions and the seller's attorney fee (if separately retained, many sellers rely on the closing attorney without separate representation).

Required disclosures in Georgia have historically been less prescriptive than in many states (no equivalent of California's TDS or Pennsylvania's seller disclosure), though sellers still have a common-law duty to disclose known material defects. Recent Georgia case law and the Seller's Property Disclosure Statement (used by most listing agents) have moved practice toward more formal disclosure.

Georgia state cap-gains tax is taxed as ordinary income; the top rate is 5.39%. Sellers with significant gains above the federal § 121 exclusion pay federal LTCG + state + NIIT (for high earners), combined effective rates in the 24%–29% range at typical higher-income brackets.

How closing typically works

Closings happen at the closing attorney's office. The buyer, seller, agents, and (in financed transactions) sometimes a lender representative are present. The attorney has prepared the deed, the closing disclosure (with the lender), the settlement statement, and the various Georgia-specific transfer-tax forms in advance.

The full closing typically takes 1–2 hours. Funds wire, the deed records at the county clerk of the superior court, transfer taxes get paid, and the transaction completes.

For contract review, complex transactions, or party-specific representation, a Georgia real estate attorney (separate from the closing attorney, in many cases) handles the work. For routine residential closings, the closing attorney often handles all the legal work without separate party representation, though buyers and sellers can retain their own attorneys at any point.