Who runs a Georgia closing
Georgia rule: a licensed Georgia attorney must conduct the real estate closing. The attorney reviews the documents, resolves title defects, and directly supervises paralegals. Witness-only closings, where a non-attorney runs the table and a lawyer merely watches, are unauthorized practice of law. The parties cannot sign a waiver around it, and attorney review 30 days afterward does not satisfy it. Escrow and non-attorney closings are common in other states, which is why "closings are ministerial acts everywhere" is such a tempting wrong answer.
The transfer tax
The Georgia real estate transfer tax is $1.00 for the first $1,000 or fraction, plus $0.10 for each additional $100 or fraction.
Worked example on a $312,450 sale: $1.00 covers the first $1,000. The remaining $311,450 ÷ $100 = 3,114.5, and a fraction counts as a whole unit, so round up to 3,115 units. 3,115 × $0.10 = $311.50. Total: $312.50. Failing to round that last fraction up gives $312.45, the planted wrong answer.
The intangible recording tax
The intangible recording tax is $1.50 for each $500 or fraction of the note, capped at $25,000 per note. On a $280,000 loan: $280,000 ÷ $500 = 560 units, and 560 × $1.50 = $840.00. Stopping at 560 forgets the multiplication. Applying the $1.00 per $1,000 transfer tax rate to the loan gives $280 and is the classic swap of the two taxes.
The Closing Disclosure clock
The consumer must receive the Closing Disclosure no later than 3 business days before consummation, and business days here are all calendar days except Sundays and federal holidays. Hand-delivered Monday: Tuesday is 1, Wednesday 2, Thursday 3, so Thursday is the earliest closing. A mailed disclosure adds 3 more business days for receipt.
Only three changes restart the clock: an inaccurate APR, a change in loan product, or the addition of a prepayment penalty. A seller credit, an insurance premium increase, or a one-day date change are handled on a revised disclosure with no new waiting period.
FIRPTA withholding
On a residence purchase with an amount realized over $300,000 but not more than $1,000,000, the rate drops to 10%. On $650,000 that is $65,000, remitted on Forms 8288 and 8288-A within 20 days of transfer. The general rate is 15%, and the full exemption stops at $300,000.