Standard Georgia Purchase And Sale Agreement

If you are an active GAR REALTOR member® enter your NRDS number in the text box below and click Send after accepting the license terms. If you are not an active member of GAR REALTOR, but have obtained the license to use the forms, please enter the form identifier number that was provided at the time of purchase or that was attached to your email receipt. The contract of sale for Georgia is the purchase deposit document when buying or selling a residential property. It is used to transmit offers and record transaction-specific data. Some of the elements of the sale that should be included in the form include the purchase price, buyer/seller provisions and financing information. If both parties agree to the conditions set out in the form, they must sign the agreement to establish a legally binding contract. The Georgia Residential Purchase and Sale Agreement is a contract that legally binds two parties (sellers and buyers) to complete a transaction of a residential property. This agreement includes all relevant information relating to the transaction, including the price, financing conditions, rights and obligations of both parties and a closing clause. If problems arise during the sale, the agreement is reached to make the situation understood and to ensure that the transaction is fair to both parties. Once the agreement is signed, it cannot be terminated unless both parties agree. Seller`s Ownership Disclosure Statement (§44-1-16) – A specific default disclosure form is not mandatory in the State of Georgia, but there is a general obligation for sellers to disclose material defects to a potential buyer; That is: Problems or conditions that would otherwise not be obvious to the buyer. The seller is also required to answer all questions of the buyer, with the exception of questions based on discrimination against race, colour, religion, sex, national origin, marital status or disability.

GAR 2020 contract forms are only available to GAR members or other licensees who have obtained a license to use the forms on our website under forms.garealtor.com. For a detailed explanation of some of the changes for 2020, you can read gar`s general counsel article Seth Weissman – click here. Seller`s Property Information Statement – There is no law that requires the seller of a home to provide the buyer with a disclosure form that contains essential facts about the property. However, it is strongly recommended to execute this document in order to avoid any form of future litigation.. . . .