The Georgia residential real estate purchase agreement (“residential purchase and sale agreement”) is a contract that outlines the terms of a residential property deal between a buyer and a seller. It may only be used for residential properties where construction has been completed.
Required Seller Disclosures in Georgia
Residential real estate purchase agreements normally contain promises and provisions guaranteeing a property’s condition. In some states, sellers are required to provide additional documentation guaranteeing the property’s condition. While other states require the seller to disclose a specific type of issue on the property—such as a material defect. In Georgia, you will need to complete the following paperwork in addition to the purchase agreement:
Property Disclosure Statement. In Georgia, a disclosure statement is not required by law, however, an owner, real estate broker, or affiliated licensee of the broker shall answer truthfully to the best of that person’s individual knowledge any questions concerning known problems with the property. (§ 44-1-16)