Buyers Guide

Buyer’s Guide

“

Find joy in everything you choose to do. Every job, relationship, home … it’s your responsibility to love it, or change it.

— C huck Pal ahn iuk

Welcome to the Dorsey Alston, Realtors® Buyer’s Guide. In these pages you will find information about the entire real estate process, from the first conversations with your mortgage lender, through the real estate contract, to closing and your move. Your Dorsey Alston agent will be with you every step of the way and is available for any questions you may have.

Contents 4

MORTGAGE PRE-APPROVAL PROCESS

8

THE HOME SEARCH PROCESS

12

THE CONTRACT PROCESS

13

THE INSPECTION PROCESS

16

THE CLOSING PROCESS

18

THE MOVING PROCESS

22

ABOUT DORSEY ALSTON

Getting Pre-Approved Pre-Qualification Know Your Lender Pre-Approval Know Your Borrowing Capacity TRID and Disclosing Information Frequently Asked Questions Ask Your Lender Glossary of Terms 7 Common Real Estate Myths Buyer Representation Our Services to You Construction Standards Glossary of Terms

Why Should I inspect?

Use a Professional Inspector Frequently Asked Questions What You Should Know About Termites Mold: What You Need to Know Know About Lead-Based Paint Representation Functions of the Closing Attorney Closing Costs Owner’s Title Insurance Property Taxes Property Survey What to Bring to Closing Moving Checklist All About Atlanta

3

The Mortgage Pre-Approval Process

GETTING PRE-APPROVED When you start considering buying a home, it’s important to think about how you will finance the purchase. To determine the feasibility of buying a particular home, you need to know how much you’ll be able to borrow. Getting pre-approved is the first step in the home-buying process.

PRE-APPROVAL Most lenders offer pre-approval, which allows the homebuyer to process the loan application while shopping for a home. Two to three weeks may be needed for preapproval depending on the documentation required for your individual situation. Most lenders will charge a fee with the understanding that the money will be applied to your closing costs when you are approved. If you choose a different lender for your loan, then the fee is non-refundable. Once the loan is approved, the lender will issue a formal credit approval in writing up to a specified dollar amount. With this written approval in hand, your bargaining position will be greatly enhanced when making an offer. Sellers will be motivated because you are a qualified buyer who can close in a very short period of time.

KNOW YOUR LENDER When shopping for a loan officer, consider three things: service, knowledge, and interest rates/fees. The total package is vital. The best rate means nothing if the loan officer, loan processor, or underwriter fails to close the loan.

SPECIAL NOTE The best rate on the internet may not be the best option. Beware of out-of-state lenders. A referral from a friend or realtor may be your best option.

4

KNOW YOUR BORROWING CAPACITY There are many loan programs for all types of buyers. Explore your options! Allow your loan officer to recommend the best program.

Here are some loans you may want to discuss:

“

Fixed Rate Mortgage Adjustable Rate Mortgage  FHA (Federal Housing Authority) *  VA (Veterans Administration) *

the world means

*There will be additional requirements for these loans. Please make your REALTOR aware if you are considering one of these options.

nothing if lack of



The best rate in



TRID AND DISCLOSING INFORMATION This gives the parties the authority to release documents necessary to facilitate the closing. With consumer privacy concerns and potential related liability, this is necessary to protect all parties.

Authorization to Disclose Information: Buyer and Seller each authorize the release of 1) this Agreement to appraisers employed by the Buyer or Buyer’s lender and 2) any closing disclosures, settlement statements and disbursement summaries to all parties associated with the transaction. Further, Buyer and Seller authorize lenders associated with the transaction and closing attorneys/title companies (in their sole discretion), to release closing documents, other documents and/or information related to or arising out of the transaction, to the other parties to this Agreement and third parties related to the transaction contemplated by this Agreement, including but not limited to, underwriters, appraisers, insurance providers, homeowner’s associations, etc.

WHEN SH O P P IN G FO R A LOAN OFFI C ER,

CONSIDER AT LEAST THREE THINGS 1 2 3

service knowledge

interest rates/fees

5

service on the part of the loan officer, loan processor or underwriter fails to close the loan.

FREQUENTLY ASKED QUESTIONS Q How do I apply for a mortgage?

A You can apply for a mortgage by phone, online or in person. The application typically takes 30 to 60 minutes.

Q Will a fee be charged at the time of the application?

A Fees vary by lender and are generally charged to cover the cost of the appraisal, credit report, and other items required to process the loan.

Q What information will be requested when I apply for a mortgage?

A Lenders typically request W2s, pay stubs, bank statements, and the Purchase and Sale Agreement for the home you are buying. Requests may vary by loan type and lender.

Q Is a down payment always required?

A Some lenders offer niche 100% financing programs, and veterans may qualify for 100% financing on VA loans. In general, the minimum down payment for a conventional loan is 3%, and for an FHA loan, it is 3.5%.

ASK YOUR LENDER Q Can I lock in an interest rate when I choose a loan type?

A You can lock in your rate when you have identified a property and have a closing date.

Q How long does it take to process an application and receive an approval letter?

A The process may take several weeks, and additional information may be needed before a letter of commitment is available. Consult your lender for more information.

Q What does “Buying a Rate Down” mean?

A Depending on your loan program, you may be able to pay “discount points” at closing to secure a lower rate. Consult your lender for available options.

Q When will I receive a loan estimate summarizing the costs involved with my mortgage?

A You should receive an official loan estimate when you make an application. You may also request preliminary loan scenarios or estimates when shopping for a loan. Ask your lender for more information.

6

GLOSSARY OF TERMS Loan Estimate: A document that summarizes the terms and costs of your loan, provided by your lender within three days of your application.

Application Fee: Some lenders charge a fee to review your loan information, which may be applied toward your appraisal. Consult your lender regarding the terms of this fee. Estimated fees: $25–$400

Loan Processing Fees: A fee charged by the lender’s processing department for preparing the loan for closing. Estimated fees: $300–$500

Appraisal Fee: This fee is necessary to legitimize the purchase price for the lender and is completed by a licensed real estate appraiser. Estimated fees: $250–$600

Origination Fee or Discount Points: Used to buy down an interest rate by paying prepaid interest.

Estimated fees: 0%–4%

Broker & Affiliated Licensees: As a general rule, only licensed real estate brokers can be paid a fee to help consumers buy, sell, or lease property. Many brokers have licensed real estate salespersons, commonly known as real estate agents, who act on behalf of the broker in helping consumers buy, sell, or lease property.

PMI: Lenders may require private mortgage insurance if your down payment is less than 20%.

Discuss options with your lender to avoid paying PMI on your loan.

RESPA (Real Estate Settlement Procedures Act): A law that protects consumers from fraudulent lending activity. You should receive a complete disclosure package (also known as a RESPA package) within three days of initial application.

Closing Disclosure: This five-page document summarizes the terms of your loan and what you pay at closing. You must receive it at least three days prior to your closing, and you can easily compare the numbers to the loan estimate you received when you applied for the loan.

Survey: A map of your property that indicates the boundaries and may include the house. Some lenders require a survey for certain transactions.

Estimated fees: $250–$800

Credit Report: A ‘tri-merge credit report’ is a merged copy of all reports from the three major credit bureaus (Equifax, Trans Union, and Experian). Your report will have all your current as well as previous credit history and a credit score from each bureau.

Most lenders use the “middle” credit score to qualify you for a loan. Estimated fees: $15–$50

Tax Service Fee: A fee charged by the attorney/ title company for researching the tax history on the property you are purchasing. Estimated fees: $65–$150 Title Exam: A fee paid to the title examiner by the attorney/title company to inspect the property for any outstanding judgments and/or liens. This cost is included in the title services fee. Estimated fees: $125–$200

Escrow Account: You can pay your annual taxes and insurance on your property through monthly payments deposited into your escrow account with your lender.

Title Insurance:

Flood Certificate Fee: This fee is required for all purchases to determine if the property is in a flood hazard zone. If so, flood insurance will be required in addition to the standard hazard insurance policy.

Discuss further with your insurance agent. Estimated fees: $5–$50

Lender’s Title Insurance A policy required by lenders that protects the lender in the same manner that owner’s title insurance protects a homeowner.

Owner’s Title Insurance Title insurance that protects homeowners against loss if there is an adverse claim against the owner’s property. It also provides legal counsel to defend against adverse claimants.

Georgia Residential Loan Fee: A flat fee charged by the government on all Georgia real estate transactions. Estimated fee: $10

Title Services: Georgia is an attorney closing state, meaning every real estate transaction must be supervised and closed by a licensed attorney.

Estimated fees: $600–$1,000

Interest Rate: The percentage rate that you pay for financing your home, affected by loan type, credit score, loan-to-value percentage (down payment), and the amount of origination/discount paid to the lender.

Underwriting Fee: This fee is charged by the lender and covers the cost of reviewing the loan file for final approval to close. Estimated fee: $400–$700 7

7 Common Real Estate Myths

3 It’s better to buy from the agent I met in the

1

open house.

Find out if the agent is

representing the seller,

Buying directly from

and if so, you may forfeit

me a better deal.

representation.

the homeowner can get

your right to your own

Research by the National

in the negotiation process where the experience of a

using the internet.

4

realtor can be of benefit.

Problems can arise after the initial offer, and an

experienced agent can

provide valuable advice and guidance.

My Dorsey Alston agent can only help me find a home in Georgia.

Through our Leading Real

If I see a yard sign or ad

in the newspaper, I should call the agent in the

find out the information

for any property listed for sale, and it’s best to have your own representation for negotiations.

of what a buyer’s agent can provide. Visiting a home

can reveal important details

that pictures on the internet can’t convey. Plus, working with a professional realtor who is knowledgeable

Estate Companies of the

acquire representation for

time and money.

contracts can save you

you anywhere in the world.

5

ad or on the sign.

Your buyer’s agent can

Finding a home is only part

on real estate laws and

World network, we can

2

I can find a home just as easily without an agent

Association of Realtors® has shown that it’s often

6

7 Dorsey Alston agents can

It’s best to use the on-site

only show and sell their

newly constructed home.

All members of the real

agent when buying a The on-site agent represents the

homebuilder and using them may forfeit your

right to representation.

8

own company listings. estate community can

show all homes and land currently for sale.

BUYER REPRESENTATION

Working with your Dorsey Alston, REALTORS® agent as a team will make your home purchase easier and more pleasant. Here are a few ways you can help once you’ve decided to commit to your agent: 

A ll members of a multiple listing service can show all listings, so

you don’t need to call each agent to see different listings.



I f you plan to visit open houses, inform the agent in the open

house that you are already working with your agent. This way, all agents will know who has visited the seller’s home as a courtesy to the seller. You can easily let them know by presenting your agent’s card.



I f you come across a home online or in an ad that interests you,

call your agent to ask about it. It could be a home you’ve already seen and didn’t recognize. Don’t call the advertising office if you don’t intend to use their services; let your agent make the inquiry. Your agent can obtain more information from the listing agent, which will benefit everyone involved.

OUR SERVICES TO YOU 

I f you need to sell your current home prior to purchasing a new

home, we will perform a market analysis and list your property at the best price to sell within a reasonable timeframe.



We will provide you with a list of lenders to get pre-qualified and

help determine which one may offer the best rate and terms for the financing you are considering.





e will show you houses in your desired area and price range W while considering your needs and desires. We aim to make you an informed buyer and help you find the best home available.

We will review information about the home you are interested in,

such as the seller’s disclosure, termite letter, survey (if available), and other relevant details.



We will prepare an offer on the property and go over the contract

terms, special stipulations, exhibits, and contingencies. We will present the offer on your behalf and negotiate for the best possible terms.



O nce an agreement has been reached for the home’s purchase,

we will provide you with a list of inspectors to choose from, attend the inspection with you, and prepare an inspection amendment to address any concerns that need to be addressed.



We will work with your lender and closing attorney to ensure all

details are taken care of for a successful closing.



We congratulate you on your new home purchase!

9

“

Buyers who use a buyer’s agent will find a home faster, examine more properties, and are more likely to obtain a better price.

– R esearch by the National

Association of REALTORS®

Construction Standards SYNTHETIC STUCCO Numerous manufacturers produce synthetic stucco. A study by Wilmington, N.C. building officials of hundreds of homes with synthetic stucco found that many had moisture problems in wall cavities leading to structural lumber decay.

stucco and dissimilar materials, unsealed bottom edges of foam, gaps around decorative trim, and windows and doors that are not flashed and caulked. Water intrusion can lead to swelling, loosening, and buckling of the foam substrate, cracks, deterioration of the foam and coating, water stains on interior walls, and eventual decay of structural lumber.

Synthetic stucco is Styrofoam sheeting glued and nailed to the home’s exterior structural sheathing, with a factory or field-applied fiberglass mesh and finished with two or more coats of stucco-like material. Proper installation makes it waterproof both inside and outside. Water entry typically occurs through joints between sections of synthetic

LOUISIANA PACIFIC SIDING Louisiana Pacific is a national manufacturer of building products and hardboard siding. A national lawsuit was filed against the company’s “premium-grade” of siding called “Inner-Seal.” This siding has an embossed 10

wood grain surface with randomly located, small embossed 2.25-inch knotholes. The siding is constructed of thin wood wafers bonded into planks with resins. The siding is usually installed with 7 inches of the width of a panel showing, with varying lengths.

required of the homeowner, most in-house leaks occur at the pipe joints, caused by improper installation of the clamps. Some homeowners have observed pipe deterioration upon replacing the blue pipe buried in their yard, lending credence to theories about chlorine and sunlight contributing to pipe decline.

Consumers and home inspectors report water damage to the siding. The wafer construction increases the potential for rainwater absorption at butt joints, joints with other wall materials, nail holes, joints with window and door frames, and at the bottom edges. Swelling of the material separates the wafers, encouraging more water absorption, leading to decay and damage. Much of the damage appears to result from improper installation of the siding and lack of proper maintenance, such as caulking and painting the bottom edges.

RADON Radon is a colorless, odorless and tasteless gas that can be harmful when inhaled in large quantities. It comes from the natural decay of uranium found in nearly all soils, especially areas with granite like Atlanta.

The gas enters a house through small cracks and openings, typically moving up through the ground and into the home via cracks and holes in the foundation. Any home may have a radon problem, meaning new and old homes, well-sealed and drafty homes, and homes with or without basements. Testing is inexpensive and easy.

POLYBUTYLENE CLAIMS REPORT Polybutylene water piping has been in use for several years but is fading from the construction scene due to homeowner complaints of leaks. This plastic piping comes in two forms in residential properties: bright blue piping used underground from the street water meter to the house and medium gray piping used inside the house.

Qualified testers can be obtained from agents or state radon offices. Lists of privately certified radon professionals serving the area can also be obtained from private radon proficiency programs.

EPA believes that any radon exposure carries some risk — no level of radon is safe.

Lowering high radon levels requires technical knowledge and special skills. You should use a contractor who is trained to fix radon problems.

A qualified contractor can study the radon problem in your home and help you pick the right treatment method.

Theories as to why the material seems defective include prolonged outdoor storage or exposure to sunlight after installation, causing ultraviolet light to alter the plastic chemistry and chlorine in the water attacking the plastic, causing deterioration.

While there is no maintenance of the piping

Any home may have a radon problem. This means new and old homes, well-sealed and drafty homes, and homes with or without basements. The good news is that testing is inexpensive and easy.

11

The Contract Process GLOSSARY OF TERMS Purchase and Sale Agreement: A Purchase and Sale Agreement is a legally binding contract between a buyer and seller in Georgia. The agreement, pre-approved by attorneys and the Georgia Association of Realtors® (GAR), includes terms related to the property’s legal description, purchase price, buyer’s intended loan terms, buyer’s earnest money, closing date and possession, inspection, and agency.

Binding Agreement: A binding contract is created when one party presents a signed written offer to purchase or sell property to a second party, and that party accepts the same offer in writing before the time limit expires. The GAR agreement refers to the date of mutual agreement as the acceptance date and the date of written notice of acceptance as the binding agreement date.

The receiving party must notify the other party of the binding agreement date. All time restricted obligations begin the following day.

Earnest Money Deposit: The earnest money accompanying the offer is typically 2%–3% of the sales price, payable to the selling broker and deposited within a negotiated number of days from the binding agreement date. If the buyer breaches any obligations or warranties, the seller may retain earnest money as liquidated damages.

Appraisals: The agreement does not contain a preprinted appraisal contingency, but some lenders may decline to offer the buyer a loan if the property does not appraise for the contract price. The parties may renegotiate to the lesser appraised value, and the disposition of the contract will follow the terms of contingency if the buyer added an appraisal contingency to the agreement.

Closing Date and Possession: The closing date shall be on a specific date, or an earlier date agreed upon in writing by both parties. Either party can extend the closing date up to 8 days if the loan is unable to close or if the seller fails to satisfy title, provided notice is given before the agreed-upon closing date. The buyer agrees to allow the seller to retain possession through closing or within X number of days after closing.

Due Diligence Period: During the due diligence period, the buyer has the option to terminate the agreement and receive a refund of their earnest money by providing written notice to the seller before the period ends. However, if the buyer decides to proceed after the inspection, they can give the seller an amendment addressing concerns such as repairs, which can be negotiated between the parties. After the amendment is finalized, and the due diligence period expires, the buyer must proceed with the sale.

12

The Inspection Process WHY SHOULD I INSPECT? As per the Purchase and Sale Agreement, the buyer can have a professional inspector examine the home during the due diligence period specified in the contract. An inspection can help you identify potential costly repairs to structural or mechanical systems before you purchase the property. The cost of a home inspection can range from $250 to $1000+, depending on the size of the home.

Special Note: If you’re purchasing a stucco home, it’s recommended to have a separate inspection done to assess the condition of the stucco. The cost for this inspection typically ranges from $600-$1000.

USE A PROFESSIONAL INSPECTOR Home inspections require specific technical skills. While you may be able to identify common problems, a professional inspector can give you a better overview of the entire structure and identify potential issues. We highly recommend accompanying the inspector during the examination. They can help you locate important devices, such as the on/off switch on the furnace or air conditioner, pilot light on water heater or oven, fuse box, main water shut-off controls, plumbing and electrical systems, heating, ventilation, air conditioning systems, and septic tank, well or sewer line.

13

FREQUENTLY ASKED INSPECTION QUESTIONS Q What is a home inspection?

A A home inspection is a visual evaluation of a home’s structure and components to identify issues that are not functioning properly, are unsafe, or violate building codes. If defects or symptoms of defects are found, the inspector will describe them in a written report and may recommend further evaluation.

“

Every home has problems, and every problem has a solution.

Solutions may range from a simple fix to adjusting the purchase price. A home inspection allows problems to be addressed before the sale closes.

Q What should I not expect from a home inspection?

A A home inspection does not guarantee protection against future failures.

A home inspection reveals the condition of components at the time of inspection, and future breakdowns can still occur. It is not an appraisal of a home’s value, nor does it provide guidance on whether you should buy the home or what to pay for it.

Q What does a home inspection include?

A A home inspection report typically covers the home’s heating and central air conditioning systems (temperature permitting), plumbing and electrical systems, roof, attic, insulation, walls, ceilings, floors, windows, doors, foundation, basement, and visible structure. Some inspectors offer additional services like mold, radon, and water testing.

Q What if the report reveals problems?

A Every home has problems, and every problem has a solution. Solutions may range from a simple fix to adjusting the purchase price. A home inspection allows problems to be addressed before the sale closes.

Q Can I ask the seller to make repairs?

A The due diligence paragraph allows the buyer to present an amendment to the seller to address concerns with the property. The parties can negotiate a satisfactory solution to the areas of concern.

Q What criteria should I use to choose a home inspector?

A The state of Georgia requires inspectors to be licensed. Choose an inspector who is a member of a professional home inspection organization and adheres to a code of ethics and standard practices. National organizations like ASHI, NACHI, and NAHI require their members to attend continuing education.

Q What type of report can I expect to receive?

A A home inspection report should describe what was inspected and the condition of each item. Reports created using home inspection software with color pictures and comments specific to the home are ideal. Inspectors using this software may deliver the report on-site or through the internet for quicker delivery.

WHAT YOU SHOULD KNOW ABOUT TERMITES In Georgia, the seller is no longer responsible for providing a termite inspection letter to the buyer. However, during a home inspection, the inspector will report any present or past termite damage, which can be alarming for the buyer. It is important for both parties to have full disclosure of the condition of the property.

Termites cause billions of dollars in damage every year in the United States.

They can destroy wood, trees, books, plants, and even parts of swimming pools.

Having termites can make it difficult to sell your home since most buyers will want them removed and the damage assessed.

14

Termites can take up to five years to cause visible damage, but a healthy colony can consume an entire foot of a 2x4 in just a few months. The extent of the harm depends on how the termites distribute their damage in your house. Repair costs vary widely, making it challenging to estimate the cost of repairs.

Can the damage be repaired? Yes, but if you’ve had a colony for a while, a professional should evaluate it since termites often eat away at load-bearing wood, which could affect the structural soundness of the home. We strongly recommend an annual contract with a pest control company that can provide treatment and repair services. The Sentricon bait system is also an effective way to control termites from ever coming near your home’s structure.

MOLD: WHAT YOU NEED TO KNOW Mold is a microscopic organism that breaks down dead materials and can be found on almost any organic material.

While some molds are useful, others can be highly toxic.

Mold spores reproduce by floating in the air and settling on a suitable surface. They require moisture, food, and a surface to grow on. Mold can be seen throughout the house and often appear as discoloration, ranging in colors from white to black.

Indoor exposure to mold can cause adverse health effects, especially for those with allergies, respiratory conditions, or suppressed immune systems. Infants, children, pregnant women, and the elderly are also more susceptible to mold’s effects. Symptoms of mold exposure can range from respiratory problems to nervous system issues, aches, and pains.

Detecting mold can be difficult, but musty odors and wet areas are often telltale signs. Home inspectors or industrial hygienists can conduct air sampling to detect the presence of mold spores. If there is visible mold, swab testing can determine the type of mold present.

To address a mold problem, the source of moisture must be identified and repaired. Porous materials that can trap mold, such as paper, rags, wallboard, and wood, should be thrown out. After repairs are made, affected areas should be cleaned.

KNOW ABOUT LEAD-BASED PAINT BEFORE BUYING OR RENOVATING Lead-based paint was commonly used in houses and condominiums built before 1978. However, it poses serious health risks, especially for children and pregnant women.

Therefore, buyers are advised to check for lead prior to buying or renovating pre-1978 housing.

Federal law requires that sellers disclose known information about lead-based paint and hazards before selling a house.

The sales contract must include a disclosure about leadbased paint, and buyers have the right to inspect for it within 10 days.

If you are purchasing a home built prior to 1978, you must receive the EPA pamphlet titled “Protect Your Family from Lead in Your Home.” Ask your agent for additional information and a copy of the pamphlet to protect your family’s health.

15

The Closing Process REPRESENTATION Residential real estate closings are handled differently in various states. In some, title companies manage the process; in others, escrow companies. In Georgia, most closings involve an attorney specialized in real estate transactions.

CLOSING COSTS Initially, payment of closing costs is determined in the purchase and sale agreement. If a lender finances the transaction, the purchaser negotiates the precise amount of closing costs. Federal regulations require lenders to disclose a “good faith estimate” of settlement charges to be given to the borrower within three business days following loan applications. The purchaser should become familiar with the estimate’s limitations to prevent surprises at closing. Closing costs, including the purchaser’s equity, prorations, and other adjustments, are collected at closing. Discount points are usually paid separately by the lender.

FUNCTIONS OF THE CLOSING ATTORNEY An attorney, selected after signing the contract of sale, examines the property title, prepares sale and loan documents, conducts the closing, arranges for recording the closing documents, issues the lender’s and, if desired, owner’s title insurance, and disburses the lender’s and/or purchaser’s funds.

16

Closing costs do not include escrows for property taxes and insurance. The cost of owner’s title insurance is not usually included in closing costs quoted by the lender.

OWNER’S TITLE INSURANCE Owner’s Title Insurance insures the owner against loss suffered due to claims made against the title to the property. The policy covers matters not discoverable by a proper title examination, subject to specific exceptions. Additional consideration and an attorney’s advice may be helpful in deciding whether certain exceptions to coverage are acceptable. A new survey is recommended. Without a current survey, the homeowner’s title insurance policy contains an exception for all survey matters. The risk of financial loss due to survey problems rests solely with the buyer who opts not to purchase a survey at closing.

FREQUENTLY ASKED QUESTIONS Q What would happen if I don’t have Owner’s Title Insurance and there’s a claim against my home?

A It could be a serious financial burden. You would have to pay for all expenses related to defending your rights and could even lose your equity if you’re not successful.

Q What should I consider when choosing a company to insure my title?

A Look for a company with financial strength, experience in all aspects of title insurance, and efficient and dependable service to policyholders.

PROPERTY TAXES Property taxes in most metro counties are based on 40% of the county’s assessment of your property’s market value as of January 1 each year, minus any homestead exemption. The county sets a rate per thousand each year (refer to your county’s details).

PROPERTY SURVEY Getting a survey is crucial for buyers to protect themselves. A survey helps locate boundaries and other features. It includes a map showing boundary lines, the house’s location relative to the boundaries, setback lines, easements, fences, and any encroachments. It also indicates if the property lies in a flood plain. The average residential survey costs between $300 and $1,000.

WHAT TO BRING TO CLOSING  C heckbook (personal checks up to $5,000 are usually accepted). 

Proof of Homeowner’s

Insurance (check with your lender for details).



P hoto ID

(Driver’s License, Passport).



Power of attorney information

(if applicable, prepared by closing attorney - check with your lender for approval).



G eorgia law requires all

funds in excess of $5,000 be sent via wire directly to closing attorney.

17

The Moving Process Checklist

8

5

EIGHT WEEKS BEFORE MOVING  Call movers for on-site estimates. 

FIVE WEEKS BEFORE MOVING  Collect suitable containers and packing materials if you plan to pack.

Get references from prospective movers.

 Cancel local deliveries no longer needed.

 Discuss costs, packing, timing, and insurance

with your chosen mover.

 C heck with your new township about pet

ownership requirements and transfer veterinarian records.

 Create a “move file” to store important information

and receipts for moving-related expenses.



 Register your children in their new schools.

sk the IRS about tax deductions on moving A expenses and what receipts to keep.

 C heck on specific medical forms required

for the new school district.

SEVEN WEEKS BEFORE MOVING  Prepare an inventory of everything you own and divide it into three categories. 







 

7

FOUR WEEKS BEFORE MOVING  Contact building management to schedule your move date and time.

4

lan to carry important one-of-a-kind items P with you.

 Schedule your move date with your

moving company.

ost a garage sale or donate items you no H longer need.

 Fill out a change of address form on

rrange for disposal of unsold or A undonated items.

 Close any local charge accounts.

USPS.com and notify everyone on your list.

ransfer property, fire, auto, and medical T insurance with your insurance agent.

 Make airline and hotel reservations if needed.  Transfer all insurance on your home

O rganize dental and medical records.

and possessions.

otify your children’s school(s) and arrange for N records to be forwarded to the new school district.

6

 Contact utilities for disconnection or transfer

3

and schedule for the day after your move-out.

SIX WEEKS BEFORE MOVING  Contact clubs or organizations you belong to about transferring, selling, or ending memberships.

THREE WEEKS BEFORE MOVING  Arrange for a babysitter for moving day.  Return library books and collect any

 Familiarize yourself with your new community.

items that are being cleaned, stored, or repaired.

 Request information on schools, parks and

recreation, community calendars, and maps from the Chamber of Commerce or Visitor’s Bureau.

18

TWO WEEKS BEFORE MOVING  Have utilities connected at your new home.

MOVING DAY  Strip your beds and pack the bedding into the “Load Last” box.

 M ake final packing decisions and start packing

2

items you don’t use often.

 B e present when the movers arrive, or authorize

an adult to be present.

 Clean and clear your home, including closets,

basements, and attics.

 Confirm the delivery date, time, and location with

the movers.

 Call your bank to find out how to transfer your

bank accounts.

 S pend as much time as possible with the movers

and communicate your instructions clearly.

 Clear out your safety deposit box.

 Review all paperwork and accompany the driver

 Carry valuables with you and give away plants

as they tag each piece of furniture.

if they can’t be moved.

 E nsure all your goods are loaded and inspect the

 P lan meals that will use up food in your freezer

premises before signing any releases.

and refrigerator.

 B e patient if the movers encounter delays.

 Have your car serviced if you’re driving to

your new home.

 Transfer all current prescriptions to a

MOVE-IN DAY  B e available when the movers arrive and plan to stay around while they unload.

 Dispose of flammable items.

 A uthorize an adult to be your representative if you

drugstore in your new town if needed.

cannot be present.

ONE WEEK BEFORE MOVING  Review the moving guide to ensure all tasks are completed.

 H ave payment on hand for your moving charges.

1

 C heck that the utilities are connected and follow

up on any delays.

 Label your goods appropriately with

“Do Not Load,” “Load First,” “Load Last,” and “Fragile” labels.

 Confine your pets to an out-of-the-way room.  Review your floor plan and direct the movers as

 Pack your suitcases and confirm your

they unload.

family’s travel arrangements.

 A llow electronics and appliances to adjust to room

 Ensure your moving agent has your

temperature for 24 hours before use.

contact information.

AFTER THE MOVE  Get new driver’s licenses, library cards, and voter registration cards.

 Empty, defrost and clean your refrigerator and

freezer, and prepare your stove to be moved.

 Prepare a “Trip Kit” for moving day.

 Walk and drive around your new neighborhood

 P lan to return rented cable receivers.

and community to orient yourself and your family.

19

The City of Atlanta A BLEND OF SOUTHERN CHARM AND URBAN SOPHISTICATION Atlanta, the unofficial capital of the South, is a city that blends Southern charm with urban sophistication and deeply rooted traditions. The Peach City boasts intriguing destinations at every turn, from trendy boutiques and Craftsman bungalows in Virginia-Highland and Decatur to the theater and museum district and historic Piedmont Park in Midtown. Don’t forget to explore Buckhead, known for its upscale shopping, dining, and nightlife.

Atlanta is home to 13 Fortune 500 companies, including The Home Depot, UPS, The Coca-Cola Company, and Delta Airlines. The city’s early reputation as a transportation hub with access to several rail lines lives on today, with the Hartsfield-Jackson Atlanta International Airport—the world’s busiest airport—and convenient access to 1-75, l-85, and rail lines.

A GREAT PLACE TO CALL “HOME” Metro Atlanta is home to more than 6 million people and nearly 150,000 businesses, offering a top-tier quality of life for professionals and families alike. With a diverse economy, global access, abundant talent, and low costs of business and lifestyle, it’s no wonder why so many choose to create their destiny here. Residents have easy access to public parks, jogging trails (like the BeltLine), sports facilities, world-class museums, theaters, cultural venues, internationally recognized restaurants, and shopping.

20

AN ADVANCING ECONOMY Various counties in the Atlanta area are making strides to improve their economic conditions, benefiting the Atlanta community as a whole. Cherokee, Cobb, DeKalb, Gwinnett, and Fulton exemplify some of the positive economic changes happening in Atlanta, with business expansions, job creation, new initiatives, and prospective projects.

LITTLE-KNOWN HISTORICAL FACTS  Did you know that Atlanta was first named Terminus, then Marthasville? 

G eneral William T. Sherman’s capture of the City during the Civil War in 1864 got Abraham

Lincoln re-elected as president. Joseph Johnston, the Confederate general who fought against Sherman in Atlanta, later served as pallbearer in Sherman’s funeral, where Johnston caught pneumonia and died a short time later.



Al Capone even did time in the federal prison here.



“ City in the Forest” The National Forest Service has recognized Atlanta as “the most heavily

forested urban area in the country,” covering 47.9% of the city.



Atlanta is one of few cities with three interstate highways running through it.



The Georgia State Capitol in Atlanta is gilded with pure gold leaf from the site of America’s

first gold rush in Dahlonega, GA.

21

The Company Founded in 1947 by Roy Dorsey and Robert Alston, Dorsey Alston, Realtors® is Atlanta’s oldest family-owned residential real estate firm. For 78 years, we’ve served clients with integrity, discretion, and a deep commitment to personalized service.

Our agents bring unmatched local expertise and a collaborative spirit to every transaction, representing buyers and sellers across Atlanta’s most sought-after

neighborhoods—including Buckhead, Brookhaven, East Cobb, Ansley Park, Alpharetta, Morningside, Virginia Highland, Roswell, Sandy Springs, and beyond. We understand the unique character of each community and guide our clients with market insight, strategic thinking, and care.

We combine strategic marketing, deep local knowledge, and a strong internal network to guide clients through every stage of the real estate process. Whether securing

broad exposure for a listing or identifying opportunities before they hit the market, our agents work collaboratively to deliver thoughtful advice and results. From pricing and

positioning to negotiations and closing, we tailor every step to meet the goals of each individual client.

We are a proud member of Who’s Who in Luxury Real Estate, a global network that

expands the reach of our listings well beyond Atlanta—connecting our properties to high-end markets worldwide through enhanced marketing channels.

As a locally owned firm with a legacy built on relationships, Dorsey Alston remains committed to the communities we serve. From supporting local schools and

nonprofits to helping families find the right fit, our work is rooted in care—for our clients and for Atlanta.

22

Our Values When Dorsey Alston was founded in 1947, what was most important to Roy Dorsey was the reputation of

the company and the reputation of its employees. That thought permeates the company even to this day.

Michael Rogers, President of Dorsey Alston, feels that excellent service, starting at the top begins a cycle of positivity. Staff and agents that are supported and treated with respect pay it forward to their clients.

Satisfied clients become loyal clients and in turn help to grow the business. Below describes who we are, how we treat each other, and ultimately, how we do business.

We will not sacrifice REPUTATION for GROWTH. We will not sacrifice QUALITY for QUANTITY. We do the RIGHT THING. We do it to the BEST OF OUR ABILITY. We show people WE CARE. We are FAMILY and protective of our CULTURE. We have UNWAVERING INTEGRITY. We SUPPORT one another.

We PAY IT FORWARD. We have FUN.

23

Owner/President Since returning to Atlanta in 2008 as President and CEO of Dorsey Alston, Michael Rogers has been an

integral part of the growth and success of Dorsey Alston. As President and owner of the firm, Michael is involved with the day to day operations of the office as well as spending time with agents.

Michael became chairman of Dorsey Alston in 2000, while serving as the president of BMW of Macon. In 2009, Michael returned to Atlanta to join Dorsey Alston

full-time as President and CEO. He holds a broker’s license with the Georgia Real Estate Commission, the North Carolina Real Estate Commission and is a member

of the Atlanta Realtors Association and the Highlands-Cashiers Board of Realtors.

He also serves as an Executive Committee board member of the Buckhead Coalition,

a trustee of the Woodruff Arts Center, a board member of the Metro Atlanta Chamber of Commerce, and a member of the Southern 7 Chapter of the Young Presidents’ Organization (YPO).

Born and raised in Atlanta, Rogers graduated from The Westminster Schools before receiving his bachelor’s degree with honors in economics from the University of Virginia and his MBA from the Stanford Graduate School of Business. He lives in Buckhead with his wife, Edith, a veterinarian at Peachtree Hills Animal Hospital, and their three children.

24

Managing Brokers Your three Broker/Managers have more than 50 combined years of experience in helping agents

build their business. Rip, Patrick and Carson work interchangeably with each broker being available

to answer all agents’ questions. They provide guidance with contract construction and interpretation,

ethics, strategy, coaching, training, and general office issues. Please direct all questions in these areas to any broker at any time.

Rip Sartain

SR. VICE PRESIDENT & MANAGING BROKER

Rip has served the Atlanta residential real estate community as a broker and

lending specialist for over 35 years. Using his knowledge of real estate finance, Rip has worked as an instructor at The S&L Institute and Atlanta Area Technical School. A life-long Atlanta resident, Rip attended E. Rivers Elementary and

graduated from The Lovett School. He received his bachelor’s degree from the University of Georgia and his law degree from Atlanta Law School.

Patrick Wood

SR. VICE PRESIDENT & MANAGING BROKER

Patrick has been a member of the Atlanta real estate community since 2006.

He previously managed construction projects for R.J. Wood and Company.

Prior to becoming a broker, Patrick was an agent with Dorsey Alston and a

Lifetime Member of the Atlanta Board of Realtors Multi-Million Dollar Sales Club. Patrick attended Hampden-Sydney College and holds a bachelor’s degree from Mercer University.

Carson Matthews

SR. VICE PRESIDENT & MANAGING BROKER

Carson joined Dorsey Alston Realtors in 2016 after rising through the ranks of two of the country’s largest residential real estate companies. He earned the

Rookie of the Year award in his first year as a REALTOR® and became a champion of the sustainable building movement. Over his 16-plus years as a REALTOR®,

he has earned the Phoenix Award and been named a Life Member of the Atlanta REALTORS® Association Top Producers. An early adopter of the internet and

social media, Carson is recognized by his peers as a marketing expert. Carson received his bachelor’s degree from Presbyterian College.

25

Why Green?

The color green is an integral component of Dorsey Alston for many reasons. Most

importantly, green is the color of nature, and nature uses the most efficient way to solve problems. A river uses the path of least resistance on its journey towards the ocean;

likewise, Dorsey Alston is known for its lack of red tape and bureaucracy. Agents are

grateful for the ease of the real estate process. Green is also the color of life and rebirth.

All new things start with green. Think of a young sapling or the beginning of fresh basil, mint, and parsley—all green. The same holds true with real estate. People buy homes at the beginning of a new chapter in life such as a new marriage or the beginning of

a family. Maybe a couple is looking to downsize as they become empty nesters. All in

all, green represents a new start. Finally, green was the color of choice by our founding fathers for our currency. Green ink was chosen because it was readily available and

resistant to fading. It was stable, like the country, its people and their currency … and the leadership at Dorsey Alston. In addition, they are readily available to answer questions and support their agents in the most genuine fashion.

26

2025 Dorsey Alston Statistics

A N S AC T I

ON

C

D TR

S

138 & 28

IN

LO

SE

zip codes counties

$1,091,939,981 I N C LO S E D V O LU M E

1,313

TOTAL TRANSACTIONS

698

Buy Side Sales Closed

97

615

In House Sales

Listing Side Sales Closed

68

TOP PRODUCER CLUB AGENTS That’s 34% of our 192 Producing Agents (with at least one transaction)

27

Who’s Who in Luxury Real Estate A global community of local experts

Who’s Who in Luxury Real Estate (LRE®) is a hand-selected group of more than 130,000

professionals with properties in more than 42 countries that collectively sells over $300 billion

of real estate annually, making it the most elite and comprehensive luxury real estate network in

the world. The relationships cultivated through Who’s Who in Luxury Real Estate provide unmatched

promotion for your luxury properties and connections to real estate professionals around the globe.

Who’s Who in Luxury Real Estate’s global network is showcased on LuxuryRealEstate.com, the leading portal for luxury properties online, presenting more multi-million-dollar estates than any near-peer.

PROFESSIONALS

130,000

COUNTRIES

42

ANNUAL SALES

VISITS PER MONTH

$300B

215,476

28

ANNUAL PAGE VIEWS

22,065,064

Dorsey Alston Affiliates Dorsey Alston, Realtors is proud to partner with these companies to offer our clients the highest level of

service in the mortgage and real estate attorney fields. We welcome you to contact them for assistance in your real estate transaction.

BANK SOUTH MORTGAGE

CAMPBELL & BRANNON

BankSouth Mortgage LLC is a locally owned

Campbell & Brannon, L.L.C. is a

mortgage company headquartered in

boutique law firm whose practice

Atlanta, GA. Founded in 2011, BankSouth

is concentrated in residential real

Mortgage serves customers primarily

estate transactions including closings,

located in the Southeast and specializes

relocations, foreclosures, litigation

in a suite of financing options, including

and REO work. The Firm strives to

Conventional, Jumbo, FHA, VA, Home

provide substantially superior service

Equity loans as well as Refinance, Second

to its clients through knowledgeable

Mortgage, Custom Construction and

and pleasant employees, efficient

Home Improvement loans. Our Mortgage

communication, and utilizing the

Bankers understand the needs of buyers

latest advancements in closing

and agents and work to bring a best in class

software. The attorneys in each

experience to all involved in the process

office of Campbell & Brannon, L.L.C.

with our platform of service, customized

oversee every transaction from start

communication and innovative technology

to finish and have combined legal

designed to make the mortgage process

experience of practicing law for over

transparent and convenient. Backed by one

a half a millenium with having closed

of the top performing community banks in

thousands of transactions.

the nation, BankSouth Mortgage is proud to employ a team of experienced, professional Mortgage Bankers who will work with buyers to ensure a smooth process. Please visit www.banksouthmortgage.com or contact one of our Mortgage Bankers below to learn more:

The firm maintains four primary locations in the Atlanta area, with several conveniently located along the 400 corridor: Alpharetta, Buckhead, East Cobb, and Glenridge.

In addition to the primary locations, there are several remote closing

Jan Wagner, Producing Production

locations to provide for easier access

Manager, NMLS 152431,

and less travel time.

cell: 678.525.1486 Jessica Jakulski, Mortgage Banker, NMLS 239178, cell: 770.815.8634 BankSouth Mortgage NMLS #690971

29

NEEL, ROBINSON & STAFFORD, LLC

Neel, Robinson & Stafford,

LLC has provided professional real estate services to

thousands of satisfied clients in Atlanta for over 25 years.

Our practice concentrates on building trust with a team of dedicated and

knowledgeable attorneys

and staff members to ensure outstanding customer

service, legal expertise and a seamless closing process to

all clients. Please click the link above for more information

about the firm, locations and contact information.

Metro Atlanta Coverage In the last year, Dorsey Alston has had transactions in 20 counties in Georgia, including the 10 core Metro Atlanta counties.

575

Forsyth

2

Cherokee

1

75

Fulton

985

400

85

7 Paulding

Cobb

9

20

Douglas Fulton

Rockdale

6

Clayton

Fayette

Newton

8

675

10

Walton

Dekalb

285

85

Gwinnett

4

Atlanta

20

3

5

Henry 75

1

2

3

4

5

6

7

8

9

10

30

Community Involvement Dorsey Alston, Realtors® is a proud supporter of a variety of organizations in the neighborhoods we serve, including public and private schools, the arts, youth organizations, business associations, and charities.

Below are a few examples of the places you’ll see Dorsey Alston agents helping out in the community.

Brookwood Hills EST. 1922

Dorsey Alston GIVES BACK

31

Notes

32

Notes

33

Notes

34

“

I believe that if we are to create peace in the world, we must first create peace in the home.

— Rich ard O’Keef

100 West Paces Ferry Road

1000 Johnson Ferry Road

853 North Highland Avenue

404.352.2010 | dorseyalston.com

404.352.2012 | dorseyalston.com

404.352.2010 | dorseyalston.com

Atlanta, Georgia 30305

Marietta, Georgia 30068

It’s good to be green.

Atlanta, Georgia 30306