If you are a member of the ACTIVE ® ENTREPRISE, please enter your NRDS number in the text box below and click Send after you have agreed to the licensing terms. If you are not an active member of LA REALTOR, but you purchased the form license, please enter the id number of the form listed at the time of purchase or which was in your email receipt. The Georgia Home Purchase and Purchase Contract is a contract that legally binds two parties (seller and buyer) to complete a transaction of a residential property. This contract includes all relevant information regarding the transaction, including the price, financing terms, rights and obligations of both parties, and a closing clause. If problems arise during the sale, it is agreed to disclose the situation and ensure that the transaction is fair to both parties. Once the contract is signed, it cannot be terminated unless both parties agree. The contract of sale in Georgia is the document if you buy or sell a residential property. It is used to transmit offers and record data specific to the transaction that takes place. Some items of the sale that should be included in the form include the purchase price, sales/buyer rules and financial information. If both parties agree to the terms of the form, they must sign the contract in order to create a legally binding contract. GAR 2020 contract forms are only available to members of the gar or other licensees who have purchased a license to use the forms on our forms.garealtor.com website. Seller`s Statement on Disclosure of Real Estate (No. 44-1-16) – A specific and standard disclosure form is not required in the State of Georgia, but there is a general obligation for sellers to disclose significant defects to a potential buyer; That is, problems or conditions that would otherwise not be noticeable by the buyer.
The seller is also required to answer all questions asked by the buyer, with the exception of questions based on discrimination based on race, colour, religion, sex, national origin, family status or disability. For detailed explanations of some of the 2020 changes, you can read GAR General Counsel seth Weissman`s article – click here. Seller`s Disclosure Statement – There is no law that specifies that the seller of a home must provide the buyer with a disclosure form listing essential facts about the property. Nevertheless, it is always strongly recommended to execute this document in order to avoid any form of future litigation.